American Family Ventures

American Family Ventures is a venture capital arm of American Family Insurance Company specializing in seed to series B, startup, growth capital, and early stage investments. It seeks to invest in companies that are developing technologies, concepts and business models relevant to our vision of the future of the insurance industry and areas related to insurance, FinTech, data/analytics, IoT and cyber security.home automation, connected vehicles, households and organizations in order to improve safety, efficiency and quality of life, data and analytics. It seeks to invest in companies that can improve American Family's core insurance business. The firm considers taking minority equity positions and invests between $0.5 million and $2 million. American Family Ventures was founded in 2010 and is based in Madison, Wisconsin with additional office in Madison, Wisconsin.

Armbrust, Clayton

Principal

Kyle Beatty

Managing Director

Jeremy Epstein

Senior Analyst

Amanda Joseph

Principal

Cooper LaRue

Associate

Mike Mansell

Principal

Tiana Pidgeon

Senior Associate

Vik Sasi

Associate

Stephen Todres

Senior Associate

Past deals in Insurance

Elysian

Convertible Note in 2024
At Elysian, we are reshaping the future of insurance claims handling by seamlessly merging human expertise with frontier AI intelligence. Combining decades of industry experience in both insurance and technology, we are building an AI-first platform from the ground-up to empower high caliber claims talent with technological solutions leveraging claim intelligence. We enable the strategic growth of our clients through exceptional cradle-to-grave claim services and deliver exceptional outcomes, including real-time observability, cost optimization, and customer satisfaction. We're not just building "another insurtech" or another "AI point-solution." Elysian is here to break traditional boundaries, thoughtfully merging technology and human expertise to create a future where claims are no longer a burden, but a solution.

Ledgebrook

Series B in 2024
Ledgebrook is a tech-enabled E&S MGA looking to provide the fastest, easiest quoting experience to wholesale brokers while delivering best-in-class pricing and risk selection via their innovative next-gen tech stack. Led by insurance industry veterans, the ultimate vision for Ledgebrook is to become a globally diversified reinsurer built from the ground up with modern technology.

Ledgebrook

Series A in 2024
Ledgebrook is a tech-enabled E&S MGA looking to provide the fastest, easiest quoting experience to wholesale brokers while delivering best-in-class pricing and risk selection via their innovative next-gen tech stack. Led by insurance industry veterans, the ultimate vision for Ledgebrook is to become a globally diversified reinsurer built from the ground up with modern technology.

Chelsea Avondale

Series C in 2023
Chelsea Avondale is an investment holding company focused on acquiring property and casualty insurance companies. The firm aims to address the limitations faced by many mutual insurers by implementing sophisticated pricing methodologies and advanced operational systems. Through its subsidiaries, Chelsea Avondale seeks to enhance the performance of community-based insurers, which they believe can better serve policyholders and achieve superior results compared to the broader industry. By emphasizing these strategies, the company aims to deliver exceptional risk-adjusted returns for high-net-worth investors.

Boundless Rider

Seed Round in 2022
Boundless Rider is committed to bringing product innovation, rider centricity, and excellence in claims to users of speciality vehicles.

Ledgebrook

Seed Round in 2022
Ledgebrook is a tech-enabled E&S MGA looking to provide the fastest, easiest quoting experience to wholesale brokers while delivering best-in-class pricing and risk selection via their innovative next-gen tech stack. Led by insurance industry veterans, the ultimate vision for Ledgebrook is to become a globally diversified reinsurer built from the ground up with modern technology.

Branch

Series C in 2022
Branch is a full-stack insurance company designed to make home and auto insurance simpler to buy and less expensive. Using data, technology, and automation, Branch created the world's first instant, online bundling capability which helps people save thousands of dollars a month in just minutes. Branch partners across the home and auto landscape to embed insurance at the moments that matter, delivering greater convenience and better savings.

RoofMarketplace

Seed Round in 2021
RoofMarketplace is an online platform that streamlines the roof replacement process for both homeowners and insurance carriers. It connects homeowners with vetted roofing contractors, allowing them to access multiple quotes for their roofing projects. The platform facilitates a transparent experience by enabling contractors to bid on specific jobs, which helps consumers efficiently estimate, review, and select roofing services without the need for phone calls or onsite meetings. By offering a centralized marketplace, RoofMarketplace aims to provide cost-effective solutions for roof replacements while ensuring a smooth and straightforward process for all parties involved.

Branch

Series B in 2021
Branch is a full-stack insurance company designed to make home and auto insurance simpler to buy and less expensive. Using data, technology, and automation, Branch created the world's first instant, online bundling capability which helps people save thousands of dollars a month in just minutes. Branch partners across the home and auto landscape to embed insurance at the moments that matter, delivering greater convenience and better savings.

Gradient AI

Series B in 2021
Gradient AI specializes in providing artificial intelligence solutions tailored for the insurance industry. The company utilizes extensive industry data and advanced machine learning models to enhance critical processes such as underwriting and claims management. By integrating its predictive analytics platform directly into clients' existing systems through automated workflows and APIs, Gradient AI facilitates more informed decision-making and improves operational efficiency. This technology not only aids in accurate risk assessment but also helps minimize claims and boost profitability for insurance companies, ultimately leading to better customer service and streamlined processes.

Clearcover

Series D in 2021
Clearcover, Inc. is a digital car insurance provider based in Chicago, Illinois, established in 2016. The company focuses on delivering affordable car insurance products through an online platform and agents, utilizing an API-first approach to enhance customer experience. Clearcover leverages advanced technology to streamline the insurance process, minimizing costs by avoiding expensive advertising, which allows them to offer better coverage at lower rates. The company's commitment to innovation and customer satisfaction has garnered recognition, including accolades from Glassdoor and Inc. Magazine for its workplace culture.

LeaseLock

Series B in 2021
LeaseLock Inc. is an insurance technology company that provides lease guarantor services for renters by replacing traditional security deposits with insurance. Founded in 2013 and based in Marina Del Rey, California, LeaseLock streamlines the rental process through its online application, eliminating the need for cosigners and facilitating instant lease approvals. The company's flagship product utilizes artificial intelligence to optimize coverage based on property history, resulting in significant improvements in conversion rates and reduced vacancy for property owners. LeaseLock has insured over $1 billion in leases, backed by insurance rated A (Excellent) by A.M. Best. The company has strategic partnerships with notable investors, including SoftBank Ventures Asia and Liberty Mutual Strategic Ventures, which support its mission to enhance the rental experience and minimize financial risks for apartment operators.

Turtlemint

Series D in 2020
Turtlemint is an online insurance platform founded in 2015 and headquartered in Mumbai, Maharashtra, India. The platform simplifies the insurance purchasing process by providing clear explanations of complex terms and offering smart tools to assist users in selecting suitable insurance policies. Turtlemint specializes in various types of insurance, including car, bike, health, and term life insurance. Utilizing proprietary algorithms and data analytics, the platform generates tailored recommendations for consumers. Additionally, Turtlemint maintains a network of offline facilitators to assist clients in completing purchases and navigating claims, ensuring a comprehensive support system for users throughout their insurance journey.

Branch

Series A in 2020
Branch is a full-stack insurance company designed to make home and auto insurance simpler to buy and less expensive. Using data, technology, and automation, Branch created the world's first instant, online bundling capability which helps people save thousands of dollars a month in just minutes. Branch partners across the home and auto landscape to embed insurance at the moments that matter, delivering greater convenience and better savings.

Clearcover

Series C in 2020
Clearcover, Inc. is a digital car insurance provider based in Chicago, Illinois, established in 2016. The company focuses on delivering affordable car insurance products through an online platform and agents, utilizing an API-first approach to enhance customer experience. Clearcover leverages advanced technology to streamline the insurance process, minimizing costs by avoiding expensive advertising, which allows them to offer better coverage at lower rates. The company's commitment to innovation and customer satisfaction has garnered recognition, including accolades from Glassdoor and Inc. Magazine for its workplace culture.

Protecht

Series A in 2019
Protecht, Inc., operating as TicketGuardian, specializes in developing insurtech products tailored for the consumer experience economy. Founded in 2016 and headquartered in Phoenix, Arizona, the company offers ticketing and registration platforms that enable businesses to manage inventory, revenue, fan engagement, and payments in real time. With a focus on security and scalability, Protecht provides enterprise-level technology designed to protect data and enhance customer interactions. The company leverages embedded technologies to deliver insurance solutions across the online economy, empowering partners with financial control, security protocols, data analytics, and improved conversion rates. With a team boasting over 100 years of combined experience in fraud, risk, insurance, finance, and payments, Protecht aims to support both businesses and consumers by creating a robust economic infrastructure and delivering comprehensive solutions to its insurance partners.

LeaseLock

Series A in 2019
LeaseLock Inc. is an insurance technology company that provides lease guarantor services for renters by replacing traditional security deposits with insurance. Founded in 2013 and based in Marina Del Rey, California, LeaseLock streamlines the rental process through its online application, eliminating the need for cosigners and facilitating instant lease approvals. The company's flagship product utilizes artificial intelligence to optimize coverage based on property history, resulting in significant improvements in conversion rates and reduced vacancy for property owners. LeaseLock has insured over $1 billion in leases, backed by insurance rated A (Excellent) by A.M. Best. The company has strategic partnerships with notable investors, including SoftBank Ventures Asia and Liberty Mutual Strategic Ventures, which support its mission to enhance the rental experience and minimize financial risks for apartment operators.

Avinew

Seed Round in 2019
Avinew is helping to insure a safer road with insurance technologies that enable the safety, value and freedom that comes with automated driving systems and autonomous vehicles.

Clearcover

Series B in 2019
Clearcover, Inc. is a digital car insurance provider based in Chicago, Illinois, established in 2016. The company focuses on delivering affordable car insurance products through an online platform and agents, utilizing an API-first approach to enhance customer experience. Clearcover leverages advanced technology to streamline the insurance process, minimizing costs by avoiding expensive advertising, which allows them to offer better coverage at lower rates. The company's commitment to innovation and customer satisfaction has garnered recognition, including accolades from Glassdoor and Inc. Magazine for its workplace culture.

Protecht

Series A in 2018
Protecht, Inc., operating as TicketGuardian, specializes in developing insurtech products tailored for the consumer experience economy. Founded in 2016 and headquartered in Phoenix, Arizona, the company offers ticketing and registration platforms that enable businesses to manage inventory, revenue, fan engagement, and payments in real time. With a focus on security and scalability, Protecht provides enterprise-level technology designed to protect data and enhance customer interactions. The company leverages embedded technologies to deliver insurance solutions across the online economy, empowering partners with financial control, security protocols, data analytics, and improved conversion rates. With a team boasting over 100 years of combined experience in fraud, risk, insurance, finance, and payments, Protecht aims to support both businesses and consumers by creating a robust economic infrastructure and delivering comprehensive solutions to its insurance partners.

LeaseLock

Series A in 2018
LeaseLock Inc. is an insurance technology company that provides lease guarantor services for renters by replacing traditional security deposits with insurance. Founded in 2013 and based in Marina Del Rey, California, LeaseLock streamlines the rental process through its online application, eliminating the need for cosigners and facilitating instant lease approvals. The company's flagship product utilizes artificial intelligence to optimize coverage based on property history, resulting in significant improvements in conversion rates and reduced vacancy for property owners. LeaseLock has insured over $1 billion in leases, backed by insurance rated A (Excellent) by A.M. Best. The company has strategic partnerships with notable investors, including SoftBank Ventures Asia and Liberty Mutual Strategic Ventures, which support its mission to enhance the rental experience and minimize financial risks for apartment operators.

Bunker

Series A in 2017
Bunker is a prominent provider of insurance compliance and verification solutions. The company has developed a digital business insurance platform that enhances contract-related insurance experiences for enterprises, suppliers, and independent contractors. By offering a comprehensive marketplace for contract-related insurance, Bunker identifies small business insurance buyers and delivers tailored policies precisely when needed. The platform integrates Smart Certificate of Insurance (COI) screening and compliance verification, streamlining the insurance process for its users. Through its innovative approach, Bunker aims to improve the overall insurance experience, particularly in the context of contingent staffing models.

One

Venture Round in 2017
One, Inc. is a technology company based in Folsom, California, that specializes in cloud-based software solutions for the property and casualty insurance sector. Founded in 2012, the company offers a comprehensive suite of products, including InsureOne, which encompasses policy management, payment processing, enterprise efficiency management, agency management, customer relationship management, and business intelligence. Its software is designed to facilitate the needs of various stakeholders in the insurance industry, including agencies, carriers, and managing general agents (MGAs). One, Inc. focuses on integrating digital payment solutions with robust reporting and reconciliation features, enabling data-driven decision-making and improving operational efficiency within the insurance field.

Bunker

Seed Round in 2016
Bunker is a prominent provider of insurance compliance and verification solutions. The company has developed a digital business insurance platform that enhances contract-related insurance experiences for enterprises, suppliers, and independent contractors. By offering a comprehensive marketplace for contract-related insurance, Bunker identifies small business insurance buyers and delivers tailored policies precisely when needed. The platform integrates Smart Certificate of Insurance (COI) screening and compliance verification, streamlining the insurance process for its users. Through its innovative approach, Bunker aims to improve the overall insurance experience, particularly in the context of contingent staffing models.

CoverHound

Series C in 2015
CoverHound, Inc., operating as CoverHound Insurance Solutions, is a technology company based in San Francisco, California, that provides a comparison shopping platform for car and property insurance. Founded in 2010, CoverHound connects consumers with national insurance carriers and local agents, allowing them to compare accurate rates and find policies that suit their individual needs. The platform is designed to offer transparent access to insurance options, providing smart recommendations and personalized quotes without spamming users. With a focus on user control and data privacy, CoverHound facilitates a seamless experience for customers seeking to shop for and purchase insurance.

CoverHound

Series B in 2015
CoverHound, Inc., operating as CoverHound Insurance Solutions, is a technology company based in San Francisco, California, that provides a comparison shopping platform for car and property insurance. Founded in 2010, CoverHound connects consumers with national insurance carriers and local agents, allowing them to compare accurate rates and find policies that suit their individual needs. The platform is designed to offer transparent access to insurance options, providing smart recommendations and personalized quotes without spamming users. With a focus on user control and data privacy, CoverHound facilitates a seamless experience for customers seeking to shop for and purchase insurance.
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