What does 1Fort do?
1Fort provides an AI platform that automates various broker workflows for business insurance, including autofilling applications, retrieving quotes, comparing coverages, and integrating payment and financing options. The company is licensed in all 50 states and partners with more than a dozen A-rated carriers.
How much did they raise?
The company raised $7.5M in a funding round categorized as series_unknown. The round was led by Bonfire Ventures with participation from Draper Associates, Karim Atiyeh, Village Global, Operator Partners, 8-Bit Capital, Character VC, and Company Ventures.
What are their plans for the money?
With the new funds, 1Fort intends to expand its operations and accelerate development efforts, which could further enhance its platform's capabilities and strengthen its position in the insurtech market.
What have they achieved so far?
1Fort has already achieved significant milestones by partnering with over a dozen A-rated carriers across the US, demonstrating its capability to automate and streamline the insurance process for brokers.