Ongoing funding has brought in $31 million to date for the Embedded Insurance company.
SALT LAKE CITY, Utah, March 31, 2021 (PR NEWSWIRE)– Salty Dot Inc., the Embedded Insurance® technology company, has announced $15M in additional funding from new and existing investors.
This brings the company’s capital raised to date to over $31 million. The investment comes nine months after the insurtech company launched platform operations and less than three months after announcing its initial funding. The incremental funds will be used to drive growth with partners, optimize the Embedded Insurance platform, and develop Salty’s product further.
“As we refine our digital experience, we remain focused on perfecting our automotive platform to create lifelong customers, with the ultimate goal of transforming multiple insurance markets,” said James Hall, Founder and CEO of Salty.
As of June 2020, Salty had conclusively proven product-market fit, with double the industry standard of conversions. High conversion rates are just one of the Salty platform characteristics that benefit carriers, distribution partners, and customers.
Salty’s platform is a proprietary Software-as-a-Service (SaaS) solution that uses artificial intelligence and machine learning to analyze customer data. It then sorts through multiple carriers and presents the customer with the best, bindable quote in real-time.
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