Backed by Elefund, Fremont Group, Human Capital, and other investors, the Embedded Insurance® technology company is expanding its platform.
Salty Dot Inc., the Embedded Insurance technology company, accelerated out of stealth mode. The company announced $16M in total funding.
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Salty’s platform is a proprietary Software-as-a-Service (SaaS) solution that enables carriers and distribution partners to offer a personalized policy to insure a product or service in real-time during the purchase process.
“Salty is creating the new category of Embedded Insurance. This presents an opportunity to fundamentally change insurance underwriting and distribution, to the benefit of consumers and insurers alike,” said Serik Kaldykulov, Managing Partner at Elefund.
Embedded Insurance has proven wildly successful as scores of partners have seamlessly implemented Salty into their process, which simplifies the critical but tedious matter of protecting products and services. With a proven model executed through select partners, they will expand into more products and markets in 2021.
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“We are excited to support Salty. Their technology platform makes the insurance process seamless, benefitting carriers, distribution partners, and consumers,” said Scott Earthy, Managing Partner of Fremont Group.
The company plans to extend its platform, which uses intelligent systems. It analyzes unique data sources about the buyer and the purchase, then seamlessly offers the best policy. Licensed in all 50 states, Salty is also applying funds to fuel recruitment of its distribution network.
“We are grateful for the immense interest in Salty, which we founded to transform the insurance industry and focus on the customer by powering a simple, transparent, self-service technology,” said James Hall, Founder and CEO of Salty.
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