Mulberri, an artificial intelligence-driven embedded business insurance platform for small and medium enterprises, announced its $6.75 million Series A led by Eos Venture Partners, with participation from existing investors Hanover Technology Management, MS&AD Ventures, and Altamont Capital Partners (via insurance enterprises in its portfolio). Zach Powell, general partner of Eos Venture Partners, will join Mulberri as a board member.
Founded in 2021, Mulberri provides custom-fit solutions for small and medium enterprises through deep partnerships in the HR, benefits, and payroll sectors and other affinity SME channels. Mulberri’s platform offers an array of insurance solutions, including brokerage, risk transfer, certificate of insurance, and risk engines.
“Our mission is to help small enterprises make data-driven risk management decisions and fulfill these needs simply, efficiently, and transparently,” said Hamesh Chawla, co-founder and CEO at Mulberri, in a company press release. “Our partnerships in the HR and Payroll sector connect us with SMEs at critical points in their business lifecycle, allowing us to provide the right risk solutions at the right time.”
Mulberri offers an ecosystem of services to serve small and medium enterprises, including Violet Berri, a joint venture of Vensure Employer Services and Mulberri. It provides a business insurance marketplace customized for PEOs and ASOs through a partnership with Prism HR. Offerings span smart submission, marketplace, quote and bind, post-bind, risk engine, and COI.
Mulberri also offers Certificate of Insurance, which enables clients to request and generate COIs with a fully automated, self-service model, as well as Risk Engine, which equips workers’ compensation underwriters with information to assist in the decision making process.
Cyber Insurance at Mulberri also allows SMEs to access cyber coverage with fixed premiums and underwriting.
Mulberri will use the capital from the recent transaction to expand its ecosystem of small and medium enterprise services, according to the release.