Insurtech startup Slope Software announced $1m seed round investment
Slope Software, an insurtech startup aiming to modernise actuarial software, has raised a $1 million seed round investment led by tech venture fund Cofounders Capital in Cary, NC. The company will use the funding to scale the growth of its software platform, which launched early last year.
Slope aims to address the issue of burdensome technology that hinders actuaries’ progress. After spending over 12 years in the industry, CEO Andy Smith teamed up with with Taylor Perkins, CTO and enterprise software engineer, to build a new platform intended to banish the need for cumbersome workarounds and manual intervention.
By implementing automated data management, an intuitive interface, and integrated reporting, Slope aims to allow actuaries to perform their analysis much faster by reducing time-consuming tasks that are prone to human error.
Tim McLoughlin, partner at Cofounders Capital, will join the board of directors. He said:
"At Cofounders Capital, we look to invest in great management teams with deep industry experience and software solutions that provide demonstrable ROI to customers. Slope is the perfect example of our investment thesis. Andy has felt the pain of using legacy software as an actuary himself, and along with Taylor created a solution that is better, faster, and cheaper for other actuaries. As part of our diligence, we spoke with dozens of current and potential customers that have been anxiously waiting for this modern solution in their industry."
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