An AI-driven insurance technology company, 1Fort, has successfully secured $7.5 million in an oversubscribed funding round. This investment, championed primarily by existing venture capital investors and with significant contributions from the company's founder, aims to bolster the firm’s platform dedicated to the business insurance sector.
Established in 2021 and headquartered in New York City, 1Fort has been innovating the insurance landscape by automating brokerage processes. The company's platform automates tasks like auto-filling forms, retrieving, and comparing quotes, and integrating payment options, significantly enhancing operational efficiency. Brokers leveraging 1Fort's technology have reportedly benefited from time savings of up to two hours per submission and experienced an increase in bind rates by up to threefold.
In addition to brokerage tools, 1Fort offers advanced risk management software to assist businesses in managing their policies and proactively mitigating potential claims. The firm has established partnerships with over a dozen brokerages, providing them with tools designed to modernize and automate outdated workflows.
The recent financial injection is set to allow 1Fort to further refine its features and fortify its existing collaborations with brokers and insurance carriers. The company expressed its gratitude towards its investors for supporting its mission to revolutionize the business insurance market.
1Fort has demonstrated considerable revenue growth in the past financial year, indicating a robust market presence and a growing demand for its innovative services. The company's CEO, Anthony Marshi, along with a team of technology and insurance professionals, continues to drive the firm's mission forward with a clear focus on expanding its platform capabilities.
Prior to this latest funding round, 1Fort had raised approximately $2.49 million across two previous rounds. The most recent before this was in June 2023, where $2 million was raised in a pre-seed round led by investors such as Village Global, 8-Bit Capital, Operator Partners, Character, Company Ventures, and BrokerTech Ventures. These funds were primarily funneled into product development, strategic hiring, and reinforcing broker relationships.
Although publicly available information as of April 2025 confirms no additional rounds post-June 2023, the latest financial update underscores 1Fort's upward trajectory within the insurtech domain. The firm's continued focus on automating cyber insurance processes positions it as a transformational player in the mid-to-large business sector, providing solutions that integrate seamlessly with existing tools to deliver real-time visibility into security postures and assist in meeting cyber insurance requirements.