Total amount raised
$20.1 Millions
Latest funding date
07/01/2021
Location
Catch has successfully raised funding through a Series A round, with notable investors including Four Cities Capital and Crosslink Capital. The platform offers tailored health, dental, and vision insurance plans specifically designed for self-employed individuals.
Keep reading to explore the intricacies of Catch's fundraising journey and the investors backing this innovative platform.
What Is Catch?
Catch, founded in 2017 by Andrew Ambrosino and Kristen Anderson, is based in New York, New York. The company operates in the insurance and financial technology industries, focusing on providing health, dental, and vision insurance plans tailored for self-employed individuals.
With a small team of 1-10 employees, Catch aims to redesign benefits to center around financial stability and security for freelancers and contractors. The platform offers services such as tax withholding, long-term investment savings, and critical insurance products, ensuring that users can manage their benefits seamlessly and efficiently.
How Much Funding Has Catch Raised?
- Pre-Seed Round
- Amount Raised: $1K
- Date: July 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Initial funding to kickstart the company's operations.
- Pre-Seed Round
- Amount Raised: $1M
- Date: January 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and expand the team.
- Seed Round
- Amount Raised: $5.1M
- Date: March 2019
- Lead Investors: Khosla Ventures, Kindred Ventures, Nyca Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide banking services, investment accounts, advisory services, and a national health insurance brokerage for individual plans.
- Seed Round
- Amount Raised: $2M
- Date: October 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand its user base.
- Series A Round
- Amount Raised: $12M
- Date: July 2021
- Lead Investors: Crosslink Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate a newly announced partnership program and product development, including expanding offerings into independent disability insurance and an intelligently automated health savings account (HSA).
Total Amount Raised: $20.1M
Current Valuation: Not publicly disclosed
Key Investors
- Crosslink Capital
- Details: Crosslink Capital is a venture capital firm that led the Series A funding round for Catch. They focus on early-stage investments in technology companies.
- Investment Focus Areas: Technology, FinTech, Consumer Internet
- Notable Investments: Pandora, Ancestry.com, Coupa
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm that participated in Catch's funding rounds. They invest in transformative technology companies across various sectors.
- Investment Focus Areas: Technology, Healthcare, Clean Energy
- Notable Investments: Square, DoorDash, Impossible Foods
- Kindred Ventures
- Details: Kindred Ventures is an early-stage venture capital firm that has invested in Catch. They focus on technology and innovation.
- Investment Focus Areas: Technology, Consumer Products, FinTech
- Notable Investments: Postmates, Blue Bottle Coffee, Coinbase
- Nyca Partners
- Details: Nyca Partners is a venture capital firm specializing in fintech investments. They have participated in multiple funding rounds for Catch.
- Investment Focus Areas: FinTech, Payments, Financial Services
- Notable Investments: Acorns, Affirm, Digit
- Urban Innovation Fund
- Details: Urban Innovation Fund is a venture capital firm that invests in startups improving urban living. They participated in Catch's Series A funding round.
- Investment Focus Areas: Urban Tech, Smart Cities, Transportation
- Notable Investments: Chariot, Future Family, Neighborly
What's Next for Catch?
Catch is poised to capitalize on the burgeoning gig economy, which is estimated to be worth over $1 trillion. With nearly 40% of U.S. workers being freelancers, the platform's offerings, such as independent disability insurance and automated health savings accounts, are set to meet a significant market demand. The company's recent $12 million Series A funding will enable it to expand its distribution partnerships and product development, positioning it for substantial growth.
Future fundraising opportunities appear promising as Catch continues to attract investors interested in modernizing benefits for independent workers. However, the company may face challenges from competitors and regulatory hurdles. Ensuring affordability and accessibility of benefits will be crucial as Catch navigates these obstacles and scales its operations.
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