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SterlingRisk invests in insurtech startup FitSafe

Insurance broker and risk management company SterlingRisk has acquired a 1% equity interest in insurtech startup FitSafe LLC for $250,000.

The minority investment will help capitalize the back-end development of FitSafe's software platform, FitSafe said.

New York-based FitSafe is a risk management and commercial insurance underwriting software platform that serves the sports and fitness sector. It is expected to launch early in the fourth quarter.