Slingshot Insurance raises $27M seed to launch AI‑powered embedded insurance
Slingshot Insurance, an AI‑native startup that helps businesses embed insurance into purchases, announced a $27 million seed round. The financing was co‑led by Rally Ventures and Skyward Group, with insurance veteran Jim Hays joining the board. Founder and CEO Ethan Genteman, a former chief actuarial officer at Palomar Holdings, said the six‑person company began operating on July 1 and is…
Key points
- Slingshot raised $27 million seed, co-led by Rally Ventures and Skyward Group, with insurance veteran Jim Hays joining the board.
- The AI‑driven platform helps vertical SaaS firms offer $25 embedded policies, charging a 5% technology fee.
- First design partner Vertical Insure serves over 750,000 customers; Slingshot will launch its first program this month.
The platform uses artificial intelligence to automate data‑heavy tasks between insurers and SaaS distributors, aiming to replace spreadsheets, emails and disconnected systems. Slingshot charges a 5% technology fee to administer programs and plans to launch its first embedded‑insurance offering this month, such as a $25 policy for youth‑sports participants. The startup also intends to acquire an insurer to back policies directly, moving beyond its current role as a technology provider.
Minneapolis-based Slingshot, which uses AI to help businesses offer embedded insurance, emerges from stealth with a $27M seed co-led by Rally and Skyward Group
news.crunchbase.com · 22 October 2026
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