Certificate Hero Raises $4.5 Million for COI Processing Platform
(Image source: Certificate Hero homepage.)
Certificate Hero (Dedham, Mass.), a startup dedicated to making it easier for insurance brokers to issue and manage certificates of insurance (COI), has received $4.5 million in funding in its Series Seed II round led by RRE Ventures (New York), bringing its capital raised so far to a total of $6.5 million. Certificate Hero describes its offering as a SaaS solution that reinvents how insurance brokers of all sizes, and their customers, deal with the complexities associated with certificates of Insurance. As part of the round, Raju Rishi from RRE Ventures joined the board of directors. Raju and RRE have previously led investments in startups reinventing other insurance services industries.
“We are thrilled to welcome RRE Ventures and their talented team which has decades of experience building successful companies,” comments Michael Yanoff, CEO, Certificate Hero. “Certificates of insurance are a real pain point for insurance brokers of all sizes. Certificate Hero is a modern SaaS solution that makes processing and managing certificates more efficient and more accurate, while surfacing hidden revenue opportunities. Our customer-centric design is both elegant and intuitive.”
Certificate Hero vaunts itself as the next evolution in COI management, streamlining the entire process. Using AI-driven contract parsing, Certificate Hero reviews insurance requirements and then leverages agency management system connectivity to automate the process of issuing certificates, according to the vendor.
Certificate Hero reports that it is currently preparing to launch with its first Top 10 broker this spring, which it says demonstrates the industry’s readiness and eagerness to improve how it issues certificates of insurance.
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