Exclusive: Slingshot Raises $27M In Seed Funding To Build An Insurer For Those Small Policies Sold At Checkout
Slingshot Insurance has emerged from stealth with a $27 million seed round co-led by Rally Ventures and Skyward Group. The Minneapolis-based startup, led by first-time CEO Ethan Genteman, focuses on embedded insurance—small policies offered at point of sale. Its software connects merchants with insurers and uses AI to reduce administrative overhead that makes small policies costly. The company's first customer, Vertical Insure, serves 750,000 customers at an average premium of $25.
Key points
- $27M seed round co-led by Rally Ventures and Skyward Group
- Focuses on small embedded insurance policies at checkout
- Uses AI to streamline data sharing between merchants and insurers
- First customer Vertical Insure serves 750k customers at $25 avg premium
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