Level Team Brings Unique Expertise in Building and Scaling Tech-Driven Underwriting Systems
SAN FRANCISCO, Jan. 11, 2023 /PRNewswire/ -- Vouch, an insurance provider re-thinking business insurance for the technology industry, today announced it has acquired lending startup Level and its team of engineers. Founded by Vladimir Korshin, Asa Schachar and Molly Hogan, Level developed a tech-driven underwriting process for early-stage fintech companies that brought new efficiencies and speed to the process of raising debt.
"Level's unique expertise in building and scaling underwriting systems will bring additional knowledge to our team as we continue to effectively underwrite and support complex insurance policies," said Sam Hodges, CEO and co-founder, Vouch. "The team at Level demonstrated their ability to solve complex problems in a highly regulated space, and as we got to know them, we discovered many similarities in our vision to build a value-driven company. We're thrilled to bring the Level team on board."
The Level team will use their expertise in building fast and efficient underwriting systems to help Vouch continue to effectively underwrite and support complex insurance policies.
"Joining the Vouch team was an easy decision for us," said Korshin and Schachar. "We were impressed by Sam and the team's pace of development within this exciting market opportunity and look forward to contributing our expertise to the company's growth."
Terms of the deal were not disclosed.
Vouch is a US-based provider of business insurance to thousands of high-growth companies that has raised $160 million from top-tier Silicon Valley institutions and investors including Redpoint Ventures, Y Combinator, Silicon Valley Bank, Ribbit Capital and Index Ventures. Since its inception in 2018, the company has empowered clients to get risk management right through niche expertise, a proprietary approach to pricing and underwriting, fast, digital-first procurement and coverages that scale as the company grows.
As 'The Insurance of Tech', Vouch believes it's their responsibility to deliver effective and affordable insurance solutions to innovators in emerging categories. These entrepreneurs are making huge bets on the future, and it's Vouch's job to insure away the risks that are incidental to their vision. Today that means launching protection for Web3. Tomorrow, it could be Climate, or Space. Wherever the next generation of founders goes, Vouch will be there to protect them.
More information on Vouch can be found at https://www.vouch.us
Vouch Insurance Services, LLC (NPN # 19039391) and Vouch Specialty Insurance Services, LLC (NPN # 19926463) are licensed in the states in which they conduct business. Detailed license information is available at https://www.vouch.us/licenses.
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