Koffie Labs has raised $4.5 million in venture financing. Koffie is an “insurtech” company that uses telematics and advanced safety technology to underwrite trucking companies, rewarding fleets that invest in safety with discounted insurance premiums.
Anthemis Group and Lerer Hippeau led two rounds of seed round financing with participation from 2048 Ventures, Plug and Play Ventures and C2 Ventures.
Truckers, used to waiting weeks for quotes, can receive one in minutes on Koffie’s streamlined and fully digital platform. Koffie’s AI-driven predictive models, which underwrite dozens of safety features, allow the company to build insurance for emerging risks like self-driving vehicles.
“Trucking insurance today is a mess and one of the primary reasons that a trucking company goes out of business,” Koffie officials said in a press release. “We are excited to unveil an entirely new insurance experience for an industry that has been neglected by insurers for a long time.”