This AI startup just raised $7.5m to fix commercial insurance for America’s 24m underprotected small businesses

Join our daily and weekly newsletters for the latest updates and exclusive content on industry-leading AI coverage. Learn More 1Fort announced today a $7.5 million seed funding round to improve how small businesses obtain commercial insurance through its AI-powered platform. The New York-based startup, which has experienced 200% month-over-month revenue growth in 2024, aims to automate the outdated, manual processes that have left millions of small businesses underinsured. Bonfire Ventures led the oversubscribed round, with participation from Draper Associates, Ramp founder Karim Atiyeh, and existing investors Village Global, Operator Partners, 8-Bit Capital, Character VC, and Company Ventures. This latest investment brings 1Fort’s total funding to $10 million. “Brokers handle insurance for 70% of businesses, yet 75% of those companies remain underinsured, with their brokers bogged down by decades-old, manual workflows involving email threads, PDFs, and spreadsheets,” Anthony Marshi ... Read full article.