TechCrunch: Brolly, an ‘AI-driven’ insurance app, raises £1M seed round led by Valar Ventures and Pi Labs

. 2 min read

TechCrunch covered our seed funding round, you can read about it here.

As we strive towards our mission to make insurance fair, precise, effortless and ultimately cheaper, we're incredibly excited to announce today that we’ve raised a £1 million seed investment round with Valar Ventures, Pi Labs and Entrepreneur First (EF).

We’re delighted to be working closely with the partners of these funds: James Fitzgerald and Andrew McCormack of Valar Ventures, the US venture capital fund backed by Peter Thiel, who have made notably successful fintech investments such as TransferWise and N26; Dominic Wilson of Pi Labs, the property-tech focused fund, who are including insurance in their investment thesis; and Wendy Tan White, General Partner of EF, the deep tech programme where Brolly was founded.

In addition to these tier one venture capital partners, we had some very exciting angel investors also participate in the round: Alan Morgan, Christian Angermayer, Matt Bellamy, Richard Fearn, Tim Levene, Tim Hugh, Bruce Macfarlane, Michael Mire and Christian Woolfenden.

We couldn’t be more thankful for their commitment and support. It’s a huge show of trust and confidence in the Brolly team and in what we’ve built so far. We can’t wait to get started on our next stage of growth, further developing our technology, fuelling growth of our team, and bringing on more insurance partners who specialise in home, motor and travel insurance.

Our smartphone app that brings all insurance into one place is currently in beta and being tested by early customers, who are involved in research, feedback, and most importantly informing our product roadmap. We have some exciting features coming out soon, with a new version on iOS and Android being launched.

The insurance industry is archaic and will take time to change, but rest assured we’re just getting started. We’re confident in our ability to create and design insurance around people, and look forward to building it with you and for you.

Thank you all for believing we can make it possible 🚀

The Brolly Team 💜

About Brolly

Brolly is an insurance app providing a fresh and personalised experience for the digital generation. We’re addressing the problems with the traditional approach to insurance; overpaying for cover you don’t need, extensive forms requesting details you don’t know, and lengthy policy documentation you don’t quite understand. Brolly’s customers can connect their inboxes and allow our AI to do all the hard work for them. We’ll locate your current insurance documents, compare these with your assets and lifestyle, then provide you with recommendations and more tailored cover which is personal to you. This is all managed straight from your smartphone, so yes, you can finally clear out that filing cabinet. Brolly launched its initial product on iOS in November 2017, and has raised $2 million in funding from renowned investors such as Peter Thiel’s Valar Ventures, Pi Labs, and Entrepreneur First. We’re changing the way that insurance works, so that it works for you.