Salty, a U.S.-based Embedded Insurance technology company, announced on Tuesday it secured over $15 million through its latest investment round, bringing the company’s capital raised to date to more than $31 million. Founded in 2019, Salty states it removes existing consumer impediments to buying the right policy and having the proper coverage.
“Salty uses artificial intelligence and machine learning to analyze unique data sources about the buyer and the purchase. It then sorts through multiple carriers to seamlessly offer the right insurance. Salty is licensed in all 50 states.”
Speaking about the investment round and the company’s development, James Hall, Founder and CEO of Salty, stated:
“As we refine our digital experience, we remain focused on perfecting our automotive platform to create lifelong customers, with the ultimate goal of transforming multiple insurance markets.”
Salty went on to add that the investment comes nine months after it launched platform operations and less than three months after announcing its initial funding. The latest investment round’s funds will be used to push growth with partners, optimize the Embedded Insurance platform, and develop Salty’s product further.