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- Counterpart
Counterpart Funding, Investors & Competitors
Counterpart has raised $106M across 4 funding rounds, most recently a $50M Series C in April 2026.
Last Counterpart funding round
$50M
Series C · Apr 2026
Cumulative funding Counterpart raised
$106M
across 4 funding rounds
Key investors in Counterpart
Valor Equity Partners
Felicis
Vy Capital
Susa Ventures
About Counterpart
Counterpart is a San Francisco-headquartered insurtech platform delivering AI-powered management and professional liability insurance. Backed by carriers like Aspen, Markel, and Westfield Specialty, it automates underwriting for small businesses. Recognized by CB Insights in 2024 as a top insurtech, the firm operates nationwide.
Founded
2019
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Counterpart Funding History
Counterpart has raised a total of $106M across 4 funding rounds.
Counterpart's first fundraising round was a $10M Series A in March 2021. The most recent completed round was a $50M Series C in April 2026.
Counterpart funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Apr 2026 | Series C | Valor Equity Partners (lead); Vy Capital | $50M | Counterpart raised $50 million in a Series C funding round led by Valor Equity Partners, with participation from existing investor Vy Capital, bringing total capital raised to $106 million. The funding occurred in late April 2026. The capital supports four priorities: launching new specialty insurance products, developing industry-specific programs, enhancing claims and risk management capabilities, and capitalizing Counterpart Insurance Company to retain risk and align incentives across the value chain. This reflects growing demand for AI-driven insurance amid AI-era business risks. Counterpart is a Los Angeles-based specialty InsurTech managing general agent (MGA) and pioneer of Agentic Insurance, an AI system integrating advanced AI with underwriting, broker support, and claims expertise to address AI-related risks. |
| May 2023 | Undisclosed stage | - | $16M | - |
| Mar 2022 | Series B | Vy Capital (lead); Felicis; Valor Equity Partners | $30M | Counterpart is a Los Angeles-based insurtech platform founded in 2019 that provides management liability insurance to small businesses, protecting against harassment or mismanagement claims by employees and board members. Its proprietary software collects data on company culture, regulatory compliance, and financials to assess risk and mitigate liabilities through broker partnerships. The company offers products including Directors and Officers, Employment Practices, and Fiduciary insurance. On March 1, 2022, Counterpart announced a $30 million Series B growth financing round led by Vy Capital, with participation from prior investors Valor Equity Partners and Felicis Ventures, bringing total funding to $40 million. Vy Capital, a global technology investor backing companies like Coalition and Reddit, took the lead, while Valor (early backer of Tesla, SpaceX) and Felicis (investor in Plaid, Credit Karma) also joined. The funding aims to expand Counterpart's footprint in the $20 billion private company management liability insurance market, scale the team, grow broker partnerships, and launch new products such as Crime and Excess insurance. CEO Tanner Hackett highlighted challenges for small businesses amid pandemic, inflation, labor shortages, and new lawsuit risks related to COVID policies, positioning Counterpart to introduce more tools for dynamic environments. The round supports innovation in underwriting using unique data for evolving small business exposures, as noted by Valor Equity Partners. |
| Mar 2021 | Series A | Valor Equity Partners (lead); Susa Ventures; Felicis | $10M | Counterpart is an insurtech company providing a data-driven management liability insurance platform for small and medium-sized businesses, targeting the $10 billion management liability insurance market. The platform offers insurance products, broker tools, and HR services to measure risk exposures, mitigate liabilities, and support businesses against claims like harassment or mismanagement. In March 2021, Counterpart raised $10 million in funding led by Valor Equity Partners, with participation from Susa Ventures and Felicis Ventures. The funding aims to fuel growth of its platform. Counterpart also partnered with Markel Specialty, part of Markel Corporation with a $15 billion market capitalization, for underwriting its management liability insurance products. |
Who has invested in Counterpart?
4 investors have backed Counterpart across its funding rounds, including Valor Equity Partners, Felicis, Vy Capital and Susa Ventures.
Lead investors include Valor Equity Partners and Vy Capital.
Counterpart Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Mar 2021 | ||
| 2 | Participant | Mar 2021 | ||
This data is available for Pro users. Sign up to see all 4 Counterpart investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialCounterpart Competitors
Counterpart competitors include listed companies like SAP and Snowflake, and private ones like wefox, Root Insurance, Anthropic and OpenAI.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $850M | - | $4.6B | 5.4x | ||
| Private | $43M | $132M | $3.6B | - | ||
| Private | $47B | - | $965B | 20.5x | ||
| Private | $25B | - | $852B | 34.1x | ||
| Publicly listed | $42B | $13B | $248B | 5.4x | ||
| Publicly listed | $4.7B | ($1.3B) | $119B | 21.0x |
Counterpart Public Comps
Counterpart is still privately-owned, but its public comps include Berkshire Hathaway, CrowdStrike, SAP, Salesforce, Allianz, ServiceNow, China Life, Ping An Insurance, Chubb and Progressive.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $411B | $101B | 2.9x | 3.0x | 11.7x | - | |||
| $4.8B | ($12M) | 51.4x | 44.5x | (19816.2x) | 151.0x | |||
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $158B | $20B | 1.3x | 0.9x | 10.2x | 10.0x | |||
| $13B | $2.6B | 11.1x | 9.6x | 57.2x | 25.0x | |||
| $90B | $28B | 1.8x | 1.7x | 5.8x | 6.0x | |||
| $138B | $13B | 7.3x | 6.3x | 77.0x | - | |||
This data is available for Pro users. Sign up to see all Counterpart competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Counterpart
| When was Counterpart founded? | Counterpart was founded in 2019. |
| Where is Counterpart headquartered? | Counterpart is headquartered in Los Angeles, CA, United States. |
| Is Counterpart publicly listed? | No, Counterpart is a private, VC-backed company. |
| How much funding has Counterpart raised? | Counterpart has raised $106M across 4 funding rounds. |
| What was Counterpart's last funding round? | Counterpart's last funding round was a $50M Series C in April 2026, led by Valor Equity Partners. |
| Who are Counterpart's investors? | Counterpart's investors include Valor Equity Partners, Felicis, Vy Capital and Susa Ventures. |
| Which companies are comparable to Counterpart? | Companies comparable to Counterpart include wefox, Root Insurance, Anthropic, OpenAI, SAP and Snowflake. |
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