Sertis Secures $3.2M in Funding to Revolutionize the Multifamily Insurance Market
RENO, Nev., March 26, 2024 (Newswire.com) - Sertis (https://www.sertisins.com), a managing general agency (MGA) focused on innovation in the insurance industry, has successfully completed an oversubscribed seed funding round. This milestone is a significant indicator of market confidence and investor support, positioning Sertis for further growth in the multifamily insurance sector.
The company has raised $3.2 million in this round, reflecting recognition from the industry for its innovative software solutions and strategic business model underpinning the company’s rapid multifamily insurance expansion into 34 states across the U.S. JLL Spark Global Ventures, the venture capital arm of JLL, a Fortune 500 company specializing in commercial real estate services, led the investment. The inclusion of Ajey Kaushal, an investor at JLL Spark, on Sertis' board brings valuable industry insight and expertise, enhancing the company’s strategic direction. Additionally, investments from BrokerTech Ventures and InsurTech NY reinforce Sertis' position within the insurance technology landscape, highlighting its potential for impact and growth.
“The Sertis platform is a breath of fresh air in an industry that has struggled to effectively price and place risk,” said Kaushal. “Commercial property owners that work with Sertis can finally be rewarded for the technology they deploy in the form of greater risk protection and lower premiums. At JLL Spark, a core piece of our evaluation criteria is a company's ability to drive a demonstrable ROI for their customers - that answer has never been clearer than with Sertis,” he continued.
Sertis’ Risk Management Platform and proprietary risk assessment technology extends beyond merely reducing insurance premiums. It is designed to lower the total cost of risk for proactive owner/operators committed to responsibly managing their properties.
Mark Gardella, CEO of Sertis, stated, “This funding round validates our innovation, strategic business model, and vision to deliver a stable and affordable multifamily insurance market and continue to strengthen our relationships with top brokers and independent agencies nationwide.”
The seed funding round demonstrates Sertis' ability to attract significant investment and marks its commitment to leveraging technology, risk mitigation, and data to improve insurance programs for multifamily portfolios. The success of this funding round is a key step in Sertis' mission to transform the insurance landscape by combining the company’s expertise, risk assessment innovation integrated with leading property management technology to deliver tailored insurance solutions.
For details, visit sertisins.com.
About Sertis
Sertis stands at the forefront of transforming multifamily insurance and is renowned for its innovative solutions and insurance expertise. Backed by an AM Best A- rated insurer, Sertis is committed to delivering stability, reliability, and risk-accurate pricing to address the evolving demands of the multifamily insurance market. The company's mission is to empower agents and brokers to provide competitively-priced insurance protection to property owners, ensuring sustainable growth and solid coverage. Sertis is currently offering multifamily property, general liability, and equipment breakdown insurance in 34 states with further expansion in all states expected by 2026.
Source: Sertis
