Tech Company Financing Transactions
Functional Finance Funding Round
On 9/20/2024, Functional Finance raised $20 million in Series A funding from Walkabout Ventures, private investors and Munich Re/ HSB Ventures.
Transaction Overview
Company Name
Announced On
9/20/2024
Transaction Type
Venture Equity
Amount
$20,000,000
Round
Series A
Investors
Proceeds Purpose
The company intends to use the funds to accelerate its product development and invest in additional strategic hiring for engineering, product development, customer success, and operations.
Company Information
Company Status
Private & Independent
Industry
InsureTech
Mailing Address
548 Market Street PMB 68044
San Francisco, CA 94104-5401
USA
San Francisco, CA 94104-5401
USA
Phone
Undisclosed
Website
Email Address
Overview
We had operations as a retail agency, a wholesaler and an MGA, along with many carrier partners. Automating the back office across the business while providing visibility to our partners and insureds was our greatest challenge. With Functional Finance, I am taking my first hand experience and turning it into a solution that truly works across the industry.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Rashmi Melgiri
Chief Technical Officer
Tony DeGangi
President
Jim Ermilio
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