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Browne Jacobson advises insuretech start-up Digital Risks on $10.4m funding round

6 March 2020

Browne Jacobson’s specialist corporate technology team has advised award winning start-up Digital Risks, the digital-first insurance broker for fast-growth technology and media businesses, on its latest $10.4m Series A funding round. The round was led by BHL Holdings, with participation from Nire Capital and existing investors Concentric, Beazley and Seedcamp.

Co-founded by Cameron Shearer and Ben Rose, Digital Risks’ product offering challenges traditional business insurance providers with an entirely online experience and flexible monthly subscription model as opposed to an annual subscription, ideally suited to today’s millennial run, digital-first businesses.

The Browne Jacobson team was led by corporate technology partner Jon Snade and associate Harry Pearson.

The transaction builds on Browne Jacobson’s reputation as one of the leading advisers to early stage disruptive tech businesses. The firm’s innovative ‘Grow’ product has been instrumental in its ranking as a leading player for venture capital work in the latest edition of Legal 500.

Co-founder and CEO of Digital Risks, Cameron Shearer, commented:

“Through our unique mix of technology and underwriting, we’ve created an online destination that meets all insurance requirements for SMEs, protecting entrepreneurs, freelancers and established businesses against emerging issues and technologies, without forcing them into lengthy and expensive contracts. This investment will help drive further development to our product offering and increase market penetration, driving growth into new markets at home.

“We have been advised by Browne Jacobson on both our £2.25 million investment round back in 2018 and for this latest Series A round. Jon and his team are trusted advisers who have always provided clear, commercial advice and their invaluable knowledge and expertise having advised many similar players in this space has been invaluable and key to supporting us on our success to date.”

Jon Snade added: “Digital Risks has achieved a number of key milestones since its last investment round and made significant progress towards achieving its long-term growth plans. This latest investment will enable our client to significantly scale its game-changing offering in the growing and lucrative insuretech sector.”

 

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