# Raincoat

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

- Industry: Insurance
- Headquarters: San Juan, Puerto Rico
- Website: www.teamraincoat.com
- Total disclosed funding: $11M
- Latest round: Seed (Jun 26, 2023)
- Investors on record: 10

## About

Based in San Juan, Puerto Rico, and founded in 2019, Raincoat LLC provides a platform that offers digital climate insurance solutions. The company was co-founded by Jonathan González, who is leading the firm as CEO as of 2023. In June 2023, the firm raised USD 6.5 million in Seed funding led by investor Two Sigma Ventures, with participation from investors Elefund, Mundi Ventures, and Revolution Ventures.

The company offers white-label climate insurance products in partnerships with insurers, financial institutions, and governments. The firm provides individualized, data-driven solutions that successfully manage the risks faced by people and businesses all around the world. Instant individual claims are processed by the company's insurance solutions based on the severity of the occurrence rather than the severity of the losses sustained.

The company plans to use the June 2023 funding to support the development of its platform and to expand its business reach.

## Funding rounds

- Seed, Jun 26, 2023, $6.5M — Two Sigma Investments, Revolution Ventures, Elefund, Mundi Ventures
- Seed, Jun 1, 2022, $4.5M — Consorcio, Divergent Capital Partners, Anthemis, Banco Popular Español S.A., SB Investment Advisers, 305 Ventures

## Investors

- Consorcio — Seed
- Divergent Capital Partners (https://capitalatlas.ai/funds/divergent-capital-partners) — Seed
- Anthemis (https://capitalatlas.ai/funds/anthemis) — Seed
- Banco Popular Español S.A. — Seed
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Seed
- 305 Ventures (https://capitalatlas.ai/funds/305-ventures) — Seed
- Two Sigma Investments (https://capitalatlas.ai/funds/two-sigma-investments) — Seed
- Revolution Ventures (https://capitalatlas.ai/funds/revolution-ventures) — Seed
- Elefund (https://capitalatlas.ai/funds/elefund) — Seed
- Mundi Ventures (https://capitalatlas.ai/funds/mundi-ventures) — Seed