Tampa insurance startup Slide raises $100M in Series A funding
Tampa-based Slide recently raised $100 million in its Series A round of funding led by Gries Investment Funds and TampaBay.Ventures. The company plans to use the fresh injection of capital to develop their product offerings and operations.
“I knew when I started this company, we would have to have cutting-edge tech in order to process and acquire massive datasets that look at everything down to the transactional-level details, and that’s hard to get,” stated Slide Founder and CEO Bruce Lucas. “We are more organically focused on premiums and the overall market conditions are more favorable now, which will accelerate the growth,” he added. “It takes a lot of data to underwrite a policy – the age of the house, the roof and its shape, the proximity to water, the age of the homeowner. We want to know every risk, every claim. I’m very lucky to have strategic partners that will provide $3 trillion total of insured value.”
The company offers artificial intelligence and machine learning-powered advice for homeowners, so as to enable them to create tailored insurance policies.
Slide co-founder and Chief Scientific Advisor Hassan Sawaf stated, “Slide has an unmatched mix of deep insurance domain knowledge, historical data, and world-leading artificial intelligence, machine learning, and applied science.” He added, “While peer companies are still trying to understand insurance optimization and consumer behavior, our experience, and Big Data allows us to drive positive outcomes from the very beginning.”
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