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Tech startup-focused insurance company launches

Tech startup-focused insurance company Vouch Insurance launched Sept. 17.

Vouch provides general liability, property, cyber, errors and omissions and directors and officers coverage. It also develops tools to help assess, mitigate and avoid risks.

The company is permitted to sell insurance in the states of Utah and Illinois. It expects to start selling in California later this fall, in 10 states by the end of the year and throughout the U.S. by the end of 2020. Its policies are backed by Munich Re.

The company also announced that it has raised $24.5 million in a series A funding round led by Ribbit Capital and SVB Financial Group. Also participating were Y Combinator, Index Ventures and 500 Startups.

Proceeds will be used for Vouch's expansion into more states, to broaden its product offerings and to build out its team.