The round, oversubscribed and led by insiders, follows a year of robust business performance for Vouch, highlighted by a 66% year-over-year revenue growth and favourable loss ratio outcomes. The company’s growth trajectory is further supported by an annual premium retention rate exceeding 120% and improving margins across its operations.
In 2023, Vouch expanded its reinsurance panel from four to seven partners and accelerated its pace of insurance innovation, including the introduction of AI Insurance, a coverage designed to address emerging risks associated with AI technology such as LLM hallucinations, regulatory errors, and intellectual property issues. Vouch Horizon, the company’s solution tailored for scale-stage startups, continues to attract significant clients.
Vouch has made substantial investments in its team, with over 70 new employees joining since 2022. Additionally, strategic appointments have strengthened the company’s leadership team, including Jared Klee as Head of Sales (formerly of IBM Watson), Clark Kays as Head of Demand Generation (formerly of Marsh McLennan), Suzanne Robinson as Head of Claims (formerly of Travelers), Meg Glenn as Head of Actuarial (formerly of Clear Blue), and Mike Gorlin as Head of Underwriting (formerly of Zurich).
Speaking about the fund raise, Sam Hodges, Co-founder and CEO of Vouch, said, “2023 was a landmark year for Vouch, driven by our team’s dedication and our investors’ belief in our mission. I’m proud that we’re one of the few companies in our market that has achieved our goals despite industry headwinds, balancing pursuit of our big vision with strong business performance.”
He added: “And most importantly, we’ve been there when our clients need us most, successfully resolving hundreds of claims – many of which are complex and potentially company-limiting – totaling many millions of dollars. This additional equity funding enables us to expand our insurance product set and distribution channels and also to continue investing in our technology platform.”
