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
Phone
Undisclosed
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
Functional Finance LinkedIn Company Profile
Social Media
Functional Finance Company Twitter Account
Company News
Functional Finance News
Facebook
Functional Finance on Facebook
YouTube
Functional Finance on YouTube

Management Team

Title
Name
Email & Social
Chief Executive Officer
Rashmi Melgiri
  Rashmi Melgiri LinkedIn Profile  Rashmi Melgiri Twitter Account  Rashmi Melgiri News  Rashmi Melgiri on Facebook
Chief Technical Officer
Tony DeGangi
  Tony DeGangi LinkedIn Profile  Tony DeGangi Twitter Account  Tony DeGangi News  Tony DeGangi on Facebook
President
Jim Ermilio
  Jim Ermilio LinkedIn Profile  Jim Ermilio Twitter Account  Jim Ermilio News  Jim Ermilio on Facebook


 

 

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We report on every notable VC transaction. VC investment data records reported here are sourced from a variety of public sources. The data comes to us via our partnership with VentureDeal.com, an affiliated venture.

 


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