US insurtech company Counterpart has secured $50m in a Series C funding round to expand its specialty insurance products for small businesses.
The funding round was led by Valor Equity Partners, with existing investor Vy Capital also taking part.
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Counterpart said the funding brings its total capital raised to more than $106m.
The company operates a specialty insurance platform it describes as “Agentic Insurance”, with integrated modules for broker services, underwriting, risk mitigation, claims management, coverage and capacity.
It said the platform has processed more than 250,000 applications and issued more than 35,000 policies across five capacity partners holding A-rated financial strength designations.
According to the company, the funding will support broader specialty product offerings through partnerships with wholesale brokers.
It will also back the launch of tailored coverage programmes for small business sectors.
Counterpart said the capital will also be used to improve claims and risk management capabilities and support its proprietary risk-bearing entity, Counterpart Insurance Company.
CEO Tanner Hackett said: “Doing so will further establish Counterpart as the first call for brokers seeking specialty liability coverage, equipping them with the data, tools and insights to become trusted advisors to their clients. Agentic Insurance gets better with every submission, policy and claim.”
The company said that this entity is intended to more closely align incentives with brokers and policyholders.
Counterpart said rising litigation costs and low insurance uptake are the main factors driving demand.
It referred to a 2025 survey of small business owners by Gallagher, which found that fewer than 33% of small businesses carry management and professional liability coverage, while 89% reported low confidence in their existing coverage.
Separately, the US Equal Employment Opportunity Commission reported nearly 270,000 inquiries in financial year 2025 and recovered $528m through pre-litigation enforcement, which it said was the highest figure in the agency’s 60-year history.
Counterpart said it positions itself as an intelligence layer within the existing insurance ecosystem, working with carriers and brokers rather than replacing them.
