# Life by Spot

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/life-by-spot

- Industry: Insurance
- Headquarters: Austin, US
- Website: www.getspot.com
- Total disclosed funding: $15M
- Latest round: Seed (Jul 14, 2021)
- Investors on record: 6

## About

Life by Spot Inc. focuses on providing embedded insurance solutions that enhance customer experiences in the active and travel markets, catering specifically to businesses involved in bookings and adventure activities.Founded in 2017 and headquartered in Austin, US, Life by Spot Inc. specializes in embedded insurance products. The company has raised a total of USD 25.00 mn across multiple funding rounds, with the latest being a VENTURE DEBT round of USD 8.00 mn on June 29, 2022, led by Ensemble VC and Sozo Ventures. Founders Maria Goy and Matt Randall have a history of entrepreneurial engagement in the insurance sector, contributing to the company's strategic direction and growth.Spot Insurance specializes in providing embedded insurance solutions tailored for the active and travel markets. Their core offerings include Refund Guarantee, Injury Insurance, and Travel Insurance, aimed at enhancing customer experiences and operational efficiencies for experience-based businesses. Refund Guarantee allows customers to cancel bookings for any reason while enabling businesses to retain their revenue, simplifying the cancellation process. Injury Insurance covers medical expenses during high-risk activities, while Travel Insurance protects customers during travel. Spot Insurance serves diverse sectors including ski resorts, tour operators, and global booking platforms across North America, Europe, and parts of Asia.Spot Insurance generates revenue primarily through B2B partnerships, embedding their insurance solutions into clients' booking processes. The company's structure allows for seamless integration, enhancing user experience. Key revenue drivers are the Refund Guarantee and Travel Insurance products, with businesses paying fees based on coverage sold. Pricing plans cater to client needs, providing flexibility for customers and financial assurance for partnering businesses.Following the VENTURE DEBT round in June 2022, where Life by Spot Inc. raised USD 25.00 mn, the company plans to leverage this funding to enhance its strategic relationships and expand its market presence. Upcoming products are being designed, with specific timelines yet to be announced. Moreover, Spot Insurance aims to enter new markets, specifically targeting expansion into additional regions in Europe and Asia by the end of 2023.

## Funding rounds

- Seed, Jul 14, 2021, $9M — Mutual of Omaha Insurance Company, GreatPoint Ventures, Silverton Partners, Montage Ventures, MS&AD Ventures
- Seed, Dec 21, 2018, $5.8M — Silverton Partners, 9Yards Capital

## Investors

- Silverton Partners (https://capitalatlas.ai/funds/silverton-partners) — Seed
- 9Yards Capital (https://capitalatlas.ai/funds/9yards-capital) — Seed
- Mutual of Omaha Insurance Company — Seed
- GreatPoint Ventures (https://capitalatlas.ai/funds/greatpoint-ventures) — Seed
- Montage Ventures (https://capitalatlas.ai/funds/montage-ventures) — Seed
- MS&AD Ventures (https://capitalatlas.ai/funds/ms-ad-ventures) — Seed