Atlanta-based insurtech Sola has raised $8mn in Series A funding, pushing total financing to $11.7mn. The round was led by FINTOP Capital and JAM FINTOP, with backing from 10vc and Georgia Tech.
Sola aims to create the first vertically integrated property insurance company, owning every step of the process—from policy design and risk modeling to claims handling and internal tooling.
The company says this eliminates dependence on third-party vendors and gives agents and customers a more consistent experience.
The startup has expanded quickly since last year’s seed funding. Revenue has grown sevenfold, the company launched a wind and hail program, and it secured coverholder status with Lloyd’s of London.
Its model uses objective data triggers for payouts, cutting reliance on subjective claim adjustments and speeding recovery for policyholders.
CEO and co-founder Wesley Pergament said Sola rebuilt the insurance stack from the ground up. By controlling forms, modeling, claims, and internal systems in-house, the company seeks to deliver a better experience for both buyers and agents.
Insurance companies are known for outsourcing core parts of their business. We rebuilt and vertically integrated our policy forms, modeling, claims, and internal tools from scratch, creating a better buying, coverage, and claims experience for customers and agents.
Wesley Pergament, co-founder and CEO of Sola
Investors believe Sola’s timing is strong as traditional carriers raise prices and deductibles in response to climate-driven losses.
FINTOP Capital general partner John Philpott pointed to the firm’s underwriting discipline, technology platform, and agency momentum as drivers of long-term growth.
With demand growing and a waitlist of agencies, Sola plans to use the new capital to push revenue into eight figures, expand its sales and product teams, and extend coverage to more homeowners.
