'We're gonna make sure you have the right coverage regardless of the underwriters and we're gonna make sure you're not taken advantage of on price,' Glow's founder says.
Glow CEO Samad Wahedi didn't want to build another sales tool.
Wahedi comes from a family of small business owners, and he watched them struggle with balancing how to spend time and resources on growing revenue versus managing risk for critical, but expensive, issues such as workers' compensation. On Tuesday, Glow announced a $22.5 million Series A round that was led by Cota Capital and also included AV8 Ventures, Markd, Startup Venture Capital and Maiden Re. It brings the company's total funding to $28 million.
To do this, Glow taps into a suite of data, both public and private, and uses artificial intelligence to pre-approve small businesses for specific types of coverage. It primarily offers workers compensation but can also match business customers to just about any other type of commercial insurance including general liability.
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