arqu, a tech-focused wholesale insurance brokerage transforming how large-scale and complex commercial risks are transacted, announced a $10 million Series A funding round, led by Crosslink Capital with participation from Intact Ventures. arqu also saw continued support from all existing investors, Lightspeed Venture Partners, Foxe Capital and Nationwide Ventures.
For a long time, underwriters have shouldered the burden of risk assessment. arqu believes in arming its brokers with data and insights so they can thoroughly pre-underwrite risks, share the burden of risk discovery, and deliver better outcomes for retail brokers and their clients.
This funding round will support expansion into new industry verticals and accelerate product development. arqu is scaling up its ability to tackle larger and more diversified risks, recently launching portfolio-level analytics for its teams. From national property portfolios to large-scale loss schedules, arqu’s broker teams can analyze complex risks with just a few clicks and place with greater insight and precision.
Now working with 20 of the largest retail brokerages in the country, arqu also recently placed its largest single placement (multi-million in premium) and is on track for its largest production quarter since inception. And with the Series A funding, arqu will grow beyond Construction and scale into Real Estate, Energy and Environmental near-term, with additional verticals targeted for 2025.
KEY QUOTES:
“arqu is not just building a better wholesaler, it is redefining how wholesalers operate and create value by making data and technology central to its approach and maximizing the potential of its brokers.”
-David Silverman, General Partner at Crosslink Capital
“We empower our broker teams with technology to provide unparalleled service to our retail brokerage customers and be the best pre-underwriting partners for our capacity providers. With the E&S segment on track for its seventh consecutive year of double-digit growth, we see data-driven broking as the key to managing large-scale commercial risks in an increasingly challenging world.”
-Chi Lee, Co-founder and CEO of arqu
