(image: Korea Bizwire)
BOULDER, Colo., March 24 (Korea Bizwire) – Markd, a new insurtech VC firm, announced today the close of its $100M debut fund. The $100M vehicle will be used to fund early- and growth-stage startups with the potential to propel the digital transformation of the insurance industry. Anchor investors in Fund 1 include Markd founder and managing partner Parker Beauchamp and an undisclosed industry partner.
Investment funding in the insurtech space reached new heights last year, raising a record high of more than $10.5 billion (USD).
“While this is great news for general market escalation, the investment funding hasn’t been evenly distributed, and as many as 95% of insurtechs did not experience a rise in investment support,” said Beauchamp. “Markd was founded to identify and support transformative insurance ideas of high-potential startups not getting the attention and funding they deserve. With ideas around the metaverse, blockchain, and everything in between, there are some remarkable founders primed to evolve the industry perpetually. We’re committed to seeking investment partners who not only provide capital but possess industry expertise to create, reinvent and innovate conventional insurance models.”
As CEO of INGUARD, an insurance and risk management firm serving clients in the U.S. and abroad, Parker has spent over 20 years distributing insurance digitally, has a deep understanding and connection with the legacy insurance environment and a pulse on the future technologies and distribution challenges. Markd will build on this expertise, network, and experience to identify investments with the potential to transform and continually meet the needs of today’s consumers.
“During the fintech innovation boom, traditional banking joined forces with apps, cryptocurrency, and more, which improved the industry for everyone involved,” said Beauchamp. “Momentum toward it being insurance industry’s turn continues to accelerate, and we’re eager to utilize our experience, connections, and resources to help founders create wins for themselves and their customers.”
The Markd team has worked and built in the insurance technology space for decades, bridging the gap between established insurance leaders and new school founders. Open to various insurance sectors, Markd focuses on investing in transformational founders with innovative ideas and ambition to follow through on their vision.
“We want to be there at the first spark of a great idea,” said Beauchamp. “We’re not a group of disconnected investors. We’re committed to leveraging our existing relationships, know-how, ideas, regulatory access, carriers, fulfillment, and distribution teams we’ve built to help startups get further faster so founders can keep more of their equity longer.”
About Markd
Markd is a venture capital company focused on funding and partnering with transformative insurtechs. It pays homage to the insurance industry’s legacy while helping design its future. Markd’s mission is to power substantial work and continually inspire more ideas to prevent hurt and loss.
About Parker Beauchamp
Parker Beauchamp is the founder and managing partner of Markd. A fifth-generation insurance professional with nearly 25 years in the industry, and an avid adventurer, he lives and breathes the probabilities and consequences of risks. He is also the CEO of INGUARD, a forward-thinking insurance and risk management firm that has distributed insurance digitally nationwide since the end of the 20th century.
Press Contact:
Jen Sharpe
jsharpe@gebencommunication.com
This content was issued through the press release distribution service at Newswire.com.
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Source: Markd VC via GLOBE NEWSWIRE
