- Insurtech Managing General Agent (MGA) company Loadsure recently announced it raised $11 million in Series A funding. These are the details.
Insurtech Managing General Agent (MGA) company Loadsure recently announced it raised $11 million in Series A funding. MMC led the funding round along with Crowley and existing investor Insurtech Gateway.
Loadsure will be using the funding to help accelerate the development of proprietary smart technology serving the global cargo and freight insurance market by investing in the $11 million Series A funding round. And Loadsure has led the way on freight insurance innovation and it was the first to digitalize the full cargo insurance life cycle, delivering one-click coverage to the U.S. freight industry, and offering an international, per-shipment insurance API.
With this funding round, the company looks to continue to grow its entrepreneurial organization to help freight industry businesses better understand risk and reduce loss by enabling insurance brokers to better serve their communities.
KEY QUOTES:
“Crowley recognizes the value Loadsure presents to the freight industry and is proud to join in advancing the development of their technology to meet the growing need for cost-effective risk management. We look forward to working together with Loadsure as they leverage their platform to enable operators and customers to safeguard the viability of their business.”
— Crowley’s Massimo Messina, vice president of mergers and acquisitions
“Loadsure is completely modernizing the way the freight insurance market is served by building a fully digital, data-driven, embedded insurance product. We have been extremely impressed by the domain expertise of the team, with their strong foundations and contacts in the insurance and logistics industry providing the perfect combination to build a seamless and scalable product. Loadsure’s product aligns with the changes that are happening in the market with shippers and carriers increasingly expecting flexibility, customization and ease of purchase.”
Alexia Arts, Principal, MMC VENTURES
“We’re delighted to partner with Crowley in driving meaningful change for the freight industry, especially now as it continues to strategically maneuver through supply chain disruption and pandemic uncertainty for the benefit of customers. With this infusion of capital, we’ll make the strategic hires necessary to evolve our human-centric technology and make end-to-end risk management instantly available to every business.”
— Loadsure CEO Johnny McCord
