UK startup battleface Inc., a company that specializes in tech-enabled global travel insurance, raised $12 million in new venture capital financing designed to fuel growth, market expansion and establish its U.S. headquarters in Columbus’ burgeoning tech hub.
Drive Capital, a Columbus, Ohio-based venture capital firm, led the Series A round.
This recent capital raise follows a seed round with investments from Greenlight Re Innovations and Fintech Ventures Fund, which enabled battleface to solidify operations and establish platforms and insurance-carrier relationships to help build the business.
Sasha Gainullin, battleface’s CEO, explained that this latest Series A funding round shows investor confidence in the company’s technology and global expansion plans in the area of specialty travel insurance products for both retail and wholesale customers.
“When we started battleface, we set out to make travel insurance relevant to our customers, simple to buy and accessible for everyone in the world,” Gainullin said in prepared remarks. “Our growth since then has significantly surpassed our initial expectations, and this funding will help us bring travel insurance to millions more as we continue to build our traveler focused global insurance platform.”
Launched in December 2017, battleface was developed by Tangiers Insurance Services, an insurance intermediary and coverholder at Lloyd’s. In the UK, battleface operates as a Lloyd’s coverholder via Tangiers. In the U.S., the company operates as a managing general agent through its Virginia-based entity, Tangiers Insurance Services LLC.
Led by a global team of travel insurance experts, battleface combines technology and underwriting to create, distribute and service specialty travel insurance products for audiences in both retail and wholesale.
Gainullin previously developed global operations for AIG Travel Guard and has worked with battleface since its inception. Managing Director Paul Simmonds brings experience as a Lloyd’s of London underwriter with previous leadership roles at Berkley Syndicate, CNA Hardy, Brit, and Goshawk.
Products are backed by highly rated insurers and supported by a network of 24/7 assistance coordinators, medical providers and on-the-ground field agents who provide emergency claims, medical and travel assistance services on a global basis.
*A version of this story ran previously in our sister publication Insurance Journal.