# Surround Insurance

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

- Industry: Insurance
- Headquarters: Cambridge, US
- Website: www.surroundinsurance.com
- Total disclosed funding: $5.1M
- Latest round: Seed (Oct 19, 2022)
- Investors on record: 7

## About

Surround Insurance, based in Cambridge, US, offers innovative auto insurance solutions tailored for individual and professional drivers, addressing the evolving needs of the automotive landscape.Founded in 2018 in Cambridge, US, Surround Insurance specializes in auto insurance products. The company has successfully completed 3 deals, with the most recent funding round occurring on October 19, 2022. This Seed round raised USD 2.51 mn, led by Massachusetts Mutual Life Insurance Company, with participation from Aperture Venture Capital, Cameron Ventures, and Newark Venture Partners. Surround Insurance’s current valuation stands at USD 12.057 mn. The co-founders are Jonathon Grayson and Kate Terry, who also serves as the CEO.Surround Insurance provides a comprehensive range of auto insurance solutions including liability, collision, and comprehensive damage coverage. They cater to individual drivers and professionals in high-risk sectors, such as professional gamblers. Their offerings are designed to meet the complex insurance needs arising from the increasing prevalence of electric vehicles, primarily serving customers in the United Kingdom.Surround Insurance's revenue model relies on direct-to-consumer sales, facilitating tailored insurance policies through both subscription services and one-time purchases. Customers access the company’s online platform for quotes and policy comparisons, with pricing structured around individual risk assessments. Their flagship products include bespoke plans for electric vehicles and specialized coverage for high-risk individuals.In October 2022, Surround Insurance raised USD 2.51 mn in Seed funding to support its product and distribution expansion. The company plans to launch new products tailored to emerging market trends and expand its geographic reach into additional markets within the UK and beyond. These initiatives are expected to enhance customer satisfaction and retention as the firm continues to innovate within the dynamic auto insurance sector.

## Funding rounds

- Seed, Oct 19, 2022, $2.5M — Massachusetts Mutual Life Insurance Company, NVP Capital, Cameron Ventures, Aperture Venture Capital
- Seed, Feb 23, 2021, $2.6M — Plug and Play, Bantam Group, NVP Capital, Sure Ventures, Cameron Ventures

## Investors

- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed
- Bantam Group — Seed
- NVP Capital — Seed
- Sure Ventures (https://capitalatlas.ai/funds/sure-ventures) — Seed
- Cameron Ventures (https://capitalatlas.ai/funds/cameron-ventures) — Seed
- Massachusetts Mutual Life Insurance Company — Seed
- Aperture Venture Capital (https://capitalatlas.ai/funds/aperture-venture-capital) — Seed