# Stere

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

- Industry: Insurance
- Headquarters: Dover, US
- Website: www.stere.io
- Total disclosed funding: $7M
- Latest round: Seed (Sep 26, 2022)
- Investors on record: 5

## About

Stere, Inc. is a digital platform innovating insurance distribution through its Stere API-as-a-Service, enabling rapid development of insurance solutions for insurers and brokers across multiple global markets.Founded in 2021 in Dover, US, Stere, Inc. specializes in enhancing insurance distribution through its technology. The company has completed 3 deals, with its latest funding round being a Seed round of USD 5.00 mn led by Obra Capital on September 26, 2022. CEO Dogan Kaleli has a history in technology and insurance sectors, contributing to the strategic development of the firm.Stere offers a comprehensive digital platform that revolutionizes insurance distribution through its core product, the Stere API-as-a-Service. This platform allows insurers and Managing General Agents (MGAs) to develop full-suite insurance APIs within weeks, enhancing customer experience by streamlining various processes, including payments and policy issuance—often achieving completion in seconds with minimal human intervention. Stere Distribution provides tailored solutions for brokers and embedded partners, ensuring seamless integration and expedited market entry. The company's offerings are supported by advanced data analytics tools that provide real-time insights into customer behavior and market trends, enabling informed business decisions. Stere operates in over 15 countries, including the United States, Canada, the United Kingdom, Germany, and Australia, catering to a diverse client base of insurers, brokers, and distribution partners across these regions.Stere's revenue structure is primarily driven by its subscription model for the API-as-a-Service, allowing clients such as insurers and MGAs to access and utilize their technology for insurance distribution. Clients typically engage with Stere through partnerships, paying fees for services provided, which may include integration, usage-based pricing, or licensing fees for data analytics tools. This model facilitates ongoing relationships as clients benefit from enhanced efficiency and growth in their insurance offerings, supporting Stere’s revenue generation through a consistent flow of transactions with its customer base.In September 2022, Stere, Inc. raised USD 5.00 mn in Seed funding from Vida Capital. The company plans to utilize this funding to expand trading platforms for businesses and to build and launch new insurance programs. Stere aims to enhance its product offerings and enter new markets, strategically targeting regions that align with its growth objectives.

## Funding rounds

- Seed, Sep 26, 2022, $5M — Obra Capital
- Seed, Dec 14, 2021, $2M — Hartford Investment Management, Plug and Play, Sandalphon Capital, Fin Capital

## Investors

- Hartford Investment Management — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed
- Sandalphon Capital (https://capitalatlas.ai/funds/sandalphon-capital) — Seed
- Fin Capital (https://capitalatlas.ai/funds/fin-capital) — Seed
- Obra Capital (https://capitalatlas.ai/funds/obra-capital) — Seed