# Joyn Insurance Services

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

- Industry: Insurance
- Headquarters: Albany, US
- Website: www.joyninsurance.com
- Total disclosed funding: $18M
- Latest round: Series A (Dec 29, 2022)
- Investors on record: 5

## About

Joyn Insurance Services Inc., based in the US, functions as a Managing General Agency (MGA) that specializes in providing commercial insurance solutions tailored to small and medium-sized enterprises.Founded in 2020 and headquartered in Albany, US, Joyn Insurance Services Inc. acts as a Managing General Agency focused on commercial insurance solutions. The company has successfully completed 2 deals to date, with its most recent funding round, Series A, occurring on December 29, 2022, raising USD 17.67 mn led by OMERS Ventures and supported by Avanta Ventures, Cohen Circle, ManchesterStory Group, and returning investor Sirius Group. The company's current valuation stands at USD 32.007 mn. Notably, the firm was co-founded by Ed McGough and Seraina Macia, who also serves as the CEO, bringing a wealth of experience in the insurance industry.Joyn Insurance Services Inc. primarily operates as a Managing General Agency (MGA) specializing in commercial insurance for small and medium-sized enterprises (SMEs). Their core product offerings include General Liability and Property insurance, designed to address specific risks across various industry verticals, including Real Estate, Manufacturing, Services, Wholesale, Retail, and Artisan Contractors. The company utilizes a data-driven approach to tailor its underwriting solutions, ensuring that they meet the unique needs of each client. Joyn Insurance's services emphasize transparency and responsiveness, which helps brokers and end users manage their expectations effectively. The company's products are primarily available in various states across the U.S., targeting the Excess and Surplus (E&S) market for businesses that are often underserved by traditional insurance providers.Joyn Insurance generates revenue primarily through the sale of insurance products to brokers and businesses in the small and middle markets. The transaction structure involves partnerships with brokers who facilitate the sale of Joyn's General Liability and Property insurance products to end customers. These brokers act as intermediaries, managing client relationships and assisting with submissions, while Joyn’s technology-driven platform ensures efficient processing and timely responses. The pricing structure for their insurance products is designed to be competitive within the industry, reflecting the tailored nature of the coverage offered. As a result, Joyn Insurance aims to provide value through bespoke underwriting solutions that enhance the resilience and protection of their clients’ businesses.In December 2022, Joyn Insurance Services Inc. raised USD 17.67 mn in Series A funding, with a focus on supporting its market expansion. The funding will be utilized to explore potential new product offerings and accelerate expansion into additional geographical markets. Specific new products are being designed, although detailed release dates are not specified. The company is targeting new markets to broaden its reach, particularly in states where demand for commercial insurance solutions is increasing.

## Funding rounds

- Series A, Dec 29, 2022, $18M — OMERS Ventures, Sirius Point Ltd, ManchesterStory, Avanta Ventures, Cohen Circle

## Investors

- OMERS Ventures (https://capitalatlas.ai/funds/omers-ventures) — Series A
- Sirius Point Ltd — Series A
- ManchesterStory (https://capitalatlas.ai/funds/manchesterstory) — Series A
- Avanta Ventures (https://capitalatlas.ai/funds/avanta-ventures) — Series A
- Cohen Circle (https://capitalatlas.ai/funds/cohen-circle) — Series A