Coterie, an InsurTech managing general agent focused on small business insurance, announced a raise of $27 million in new capital investment.

The oversubscribed round includes new investment from Hiscox as well as existing investors Intact Ventures, Weatherford Capital and RPM Ventures, among others. Coterie has now raised more than $102 million in funding to date.

“We’re incredibly grateful for the recognition and belief in how we’re reimagining the small commercial insurance space through continued innovation and dedication to independent agents and brokers,” said Coterie CEO David McFarland in a company press release. “This is an incredibly exciting time in Coterie’s growth as we focus on bringing enhanced value for our partners by pushing boundaries to shape the future of insurance.”

The latest funding will enable Coterie to accelerate expanded insurance offerings including exploring product enhancements, bringing new programs to agents and brokers, and streamlining customer service, the release said.

Source: Coterie