# Authentic Insurance Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/authentic-insurance-services

- Industry: Insurance
- Headquarters: New York, US
- Website: www.authenticinsurance.com
- Total disclosed funding: $18M
- Latest round: Series A (Feb 29, 2024)
- Investors on record: 9

## About

Based in New York, US, and founded in 2022 by CEO Cole Riccardi, Authentic Insurance Services, Inc., a.k.a. Authentic operates as an insurance-tech company that develops a cloud-based software platform for insurance companies. In February 2024, Authentic Insurance Services, Inc. raised USD 12.55 million in series A funding led by new investor FirstMark Capital, with participation from returning investors Slow Ventures, Altai Ventures, Commerce Ventures, Upper90, MGV Capital Group, Mischief Capital Management, Clocktower Technology Ventures, and Core Innovation Capital. Other unspecified investors also participated in the round. Authentic Insurance offers a turnkey solution for businesses to create and manage their own insurance programs. Businesses can integrate Authentic's platform and start offering their customers branded insurance products. This includes property coverage for a wide range of industries, from accounting and advertising agencies to restaurants and retail stores. The company’s platform not only helps businesses retain customers by providing them with tailored insurance options but also generates revenue through recurring commissions and underwriting profits. The company plans to utilize the February 2024 funding to hire additional engineers and develop new products in areas like health insurance and workers' compensation.

## Funding rounds

- Series A, Feb 29, 2024, $13M — FirstMark Capital, Core Innovation Capital, Slow, Commerce Ventures, Clocktower Technology Ventures, Upper90, MGV Capital Group, Mischief, Altai Ventures
- Seed, Sep 20, 2023, $5.5M — Core Innovation Capital, Slow, Commerce Ventures, Clocktower Technology Ventures, Upper90, MGV Capital Group, Mischief, Altai Ventures

## Investors

- Core Innovation Capital (https://capitalatlas.ai/funds/core-innovation-capital) — Seed, Series A
- Slow (https://capitalatlas.ai/funds/slow) — Seed, Series A
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Seed, Series A
- Clocktower Technology Ventures (https://capitalatlas.ai/funds/clocktower-technology-ventures) — Seed, Series A
- Upper90 (https://capitalatlas.ai/funds/upper90) — Seed, Series A
- MGV Capital Group (https://capitalatlas.ai/funds/mgv-capital-group) — Seed, Series A
- Mischief (https://capitalatlas.ai/funds/mischief) — Seed, Series A
- Altai Ventures (https://capitalatlas.ai/funds/altai-ventures) — Seed, Series A
- FirstMark Capital (https://capitalatlas.ai/funds/firstmark-capital) — Series A