# Parsyl

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

- Industry: Software
- Headquarters: Denver, US
- Website: www.parsyl.com
- Total disclosed funding: $46M
- Latest round: Series C (Dec 20, 2024)
- Investors on record: 8

## About

Parsyl, Inc. is a US-based software provider specializing in data-driven underwriting solutions for cargo insurance and risk management, enhancing operational resilience in the logistics sector.Founded in 2018 and headquartered in Denver, US, Parsyl, Inc. focuses on innovative solutions for cargo insurance. The company has successfully closed 3 deals as of December 2024, with recent funding of USD 20.65 mn in a Series C round led by The Lightsmith Group, alongside other investors. The CEO is Ben Hubbard, one of the founders along with Alex Haar and Mike Linton.Parsyl Inc. specializes in data-powered underwriting solutions, focusing on cargo insurance and risk management for supply chain stakeholders. Their core product offerings include innovative cargo insurance solutions that utilize advanced data analytics to assess and mitigate risks associated with cargo transportation. By providing real-time tracking and monitoring capabilities, Parsyl enables its customers—including logistics companies, freight forwarders, and insurers—to better navigate the complexities of modern supply chains. The company's services aim to enhance resilience and sustainability in logistics operations, ultimately addressing challenges such as cargo damage, theft, and compliance. Parsyl's products are primarily marketed to businesses operating in North America, Europe, and select markets within Asia, where there is a growing demand for improved risk management strategies in logistics and transportation.Parsyl generates revenue through a combination of insurance premiums and data service contracts, establishing a B2B model that serves a diverse client base in the logistics and insurance sectors. Clients engage with Parsyl by entering into agreements that typically involve subscriptions for ongoing data services and cargo insurance coverage tailored to their specific needs. Transactions occur as clients pay premiums based on their insurance policies, while also accessing data analytics services that provide insights into their supply chain risks. The pricing structure is designed to reflect the complexity and scale of each client’s operations, with customized solutions to meet individual requirements. The integration of data analytics into their insurance offerings differentiates Parsyl's services, reinforcing their position in the marketplace and creating value for their clients through enhanced risk management capabilities.In December 2024, Parsyl, Inc. raised USD 20.65 mn in Series C funding led by The Lightsmith Group, with contributions from returning investors. This funding will be utilized to support business expansion and the development of new software technology products. The company aims to enhance its offerings and expand its reach in existing and new geographic markets, focusing on North America, Europe, and select countries in Asia as it looks to address the growing demand for advanced risk management solutions.

## Funding rounds

- Series C, Dec 20, 2024, $21M — GLP Capital Partners, Hudson Structured Capital Management, The Lightsmith Group, Lineage Ventures, FirstTracks Ventures
- Series B, Jan 27, 2022, $25M — Lineage, Inc., Flexport, Inc., Hudson Structured Capital Management, Luna, GLP Capital Partners

## Investors

- Lineage, Inc. — Series B
- Flexport, Inc. — Series B
- Hudson Structured Capital Management (https://capitalatlas.ai/funds/hudson-structured-capital-management) — Series B, Series C
- Luna (https://capitalatlas.ai/funds/luna) — Series B
- GLP Capital Partners (https://capitalatlas.ai/funds/glp-capital-partners) — Series B, Series C
- The Lightsmith Group (https://capitalatlas.ai/funds/the-lightsmith-group) — Series C
- Lineage Ventures (https://capitalatlas.ai/funds/lineage-ventures) — Series C
- FirstTracks Ventures (https://capitalatlas.ai/funds/firsttracks-ventures) — Series C