Limit Has Raised $14.5 Million to Make Insurance Faster

Today, we’re announcing $14.5M in funding to accelerate us on our mission of empowering insurance brokers everywhere to find better coverage in less time. We founded Limit as a digital wholesale broker on the observation that insurance transactions were simply too laborious: with multiple application forms, emails going back and forth, and ink-signed documents, a single policy could take many hours for the broker, the insured, and even the underwriter.

Since launching in early 2021, we’ve been solving those problems. Our digital brokerage platform has provided tens of thousands of quotes to retail brokers across the country, and our expert brokerage team has found homes for many tough E&S deals among our 45+ carrier partners. We’ve built a true one-stop-shop that handles everything from figuring out the right markets to filing surplus lines forms, while empowering retail brokers with quote comparisons, price benchmarking, and gold-standard cybersecurity partners.

Following our success in the insurance markets, we have raised $14.5M between our Seed and Series A financing earlier this summer. Our Series A was led by IA Capital Group, with additional investments from American Family Ventures, Indicator Fund, Material V, and others. IA’s managing partner, Andy Lerner, is joining our board and will be working with us for the years to come.

"There's a clear need in the growing cyber market for a tech-enabled intermediary to help retail agents and their clients grapple with the ever-increasing complexity of submissions and coverage requirements. We have great conviction in the Limit team and their capabilities to fulfill this role in the marketplace."

- Andy Lerner, IA Capital

"Wholesale brokers are an invaluable part of the commercial insurance value chain, but in many instances, innovation lags compared to other segments. Limit has built a new type of wholesaler, one that uses technology to enable a better, faster, and cheaper insurance experience for all stakeholders. We're excited to work with the team at Limit."

- Mike Mansell, American Family Ventures

Especially given the challenging macroeconomic environment, we are delighted to be well-positioned for the road ahead: partnering with industry specialist investors, capitalized with many years of runway and independent of any carriers, the sky’s the limit for us as a neutral transactional partner to brokers all over the country.

What’s next? To-date, we have been primarily operating in Cyber and Tech E&O. We are now actively expanding into other lines of insurance, chiefly in professional and management liability. We’re looking forward to offering more instantly-quoted insurance products to our partners very soon. Additionally, our new insurance products will be complemented by us rolling out a set of groundbreaking new features that will help brokers find and bind the best policies more efficiently than ever before. As we continue to take on new retail broker partners, we’re growing our team to match: we’re 40 people strong already, and continuing to expand.

The insurance industry is shifting from analog to digital. We’re playing our part in this transition, making it easier than ever before for brokers to grow their business and compete in the marketplace. We’re seeing the country’s fastest-growing agencies turning to us to boost their revenue and navigate deals more efficiently. To us, this latest round of financing is a vote of confidence and an accelerant as we pave the way for the future of digital insurance distribution.

Want to learn more? Get in touch by visiting us at limit.com, or connect with us directly at contact@limit.com.

Limit AI is here to revolutionize your workflow.

Limit has built the State of the Art AI for insurance. Limit AI will summarize and compare your quotes, run your surplus lines taxes and fee calculations, identify coverage deficiencies, and do what you need to get your job done. Limit AI is extremely well-versed in all lines of P&C and highly skilled at analyzing your policies & quotes.

Our AI Assistant is built on Limit’s years of expertise as a commercial insurance wholesaler with hands on experience in all lines of P&C. Limit AI answers questions, drafts emails, and compares quotes & policies with substantially more rigor and attention to nuance than any other competitive AI product today.

Ready to get started? Join the waitlist by visiting limit.com/ai or email us at contact@limit.com.