SOLEBURY, PA — Sproutr, an innovator in the insurance industry, has announced the successful close of its seed round led by Altai Ventures, a prominent fintech venture capital firm. The funding solidifies Sproutr’s mission to close the gap between insurance innovation and execution, enabling carriers, MGAs/MGUs, and program administrators to expedite the development and launch of new property and casualty (P&C) products.
Sproutr addresses a critical pain point for the insurance industry by simplifying the complex regulatory and operational hurdles required to bring carrier-backed programs to market. The company provides end-to-end support, including market validation, form and rate development, underwriting guidelines, regulatory filings, and post-launch audits. Through proprietary frameworks, technology-driven processes, and deep industry expertise, Sproutr has delivered results for over 35 customers and facilitated the launch of more than 60 insurance products within just 2.5 years.
“Developing effective product language and managing program execution require unparalleled expertise,” said Oleg Ilichev, Managing Partner at Altai Ventures. “Sproutr elevates these processes with a technology-enabled approach, providing MGAs and carriers with a competitive edge in a highly regulated market.”
With a team of industry veterans boasting a collective 300 years of insurance experience, Sproutr has emerged as a trusted partner for some of the industry’s biggest names, including Accelerant, Boost, and Everspan. Mike McAuliffe, President of Accelerant Underwriting Managers, emphasized Sproutr’s impact, saying, “Sproutr has been instrumental in helping our Members build market-relevant products and programs while operating with agility and precision.”
Driven by its commitment to transform the insurance landscape, Sproutr’s CEO and Founder, JoAnne Artesani, highlighted the company’s vision. “Having navigated the challenges of launching programs during my career at AIG, Hippo, and Hanover, I launched Sproutr to help others bring innovative insurance products to market efficiently and effectively,” Artesani explained. “This funding will enable us to scale our customer-first approach, expand our technology, and further execute on our mission to propel insurance innovation.”
Looking ahead, Sproutr aims to redefine industry standards in program design and development, empowering companies to seize market opportunities while delivering smarter, faster solutions that meet the evolving needs of the insurance sector.
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