# Fairmatic

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fairmatic

- Industry: Insurance
- Headquarters: San Francisco, US
- Website: www.fairmatic.com
- Total disclosed funding: $88M
- Latest round: Series B (Mar 16, 2023)
- Investors on record: 4

## About

Founded in 2019 by Israeli Jonathan Matus (CEO), and based in California, US, Straight Up Insurance Services, LLC, trading under the name Fairmatic, is an auto insurance agent and underwriting company that uses sensors to gauge and enhance driver safety and set insurance rates accordingly. In August 2022, Fairmatic raised USD 46 million in Series B funding led by Battery Ventures, with participation from Bridge Bank, and other unspecified investors. As of August 2022, the company has around 65 employees in the US, UK, Portugal, India, and Poland.

The company provides insurance products and services to licensed insurance companies as well as surplus lines insurance companies by using artificial intelligence and data-driven information to track drivers' speed and accuracy while driving in order to create insurance rates that favor safe drivers.

## Funding rounds

- Series B, Mar 16, 2023, $46M — Battery Ventures, Bridge Bank
- Series A, Aug 31, 2022, $42M — Foundation Capital, Aquiline Capital Partners

## Investors

- Foundation Capital (https://capitalatlas.ai/funds/foundation-capital) — Series A
- Aquiline Capital Partners (https://capitalatlas.ai/funds/aquiline-capital-partners) — Series A
- Battery Ventures (https://capitalatlas.ai/funds/battery-ventures) — Series B
- Bridge Bank — Series B