Vouch Insurance, a Munich Re-backed platform that offers business insurance for start-ups, has raised $45m in a Series B funding round led by Y Combinator Continuity.

Concurrently, Vouch also announced its entry into Californian market where it will offer digital insurance coverage to start-ups.

With the latest investment, the insurtech has raised a total of $70m in funding so far from SVB Financial Group, Ribbit Capital, Y Combinator, Index Ventures, and 500 Startups.

Y Combinator Continuity partner Anu Hariharan said: “Y Combinator and Vouch share a common goal – giving founders the support they need to build successful, innovative companies.

“Vouch is built specifically for start-ups, so founders have the peace of mind that their business is covered. This platform is fundamental to the start-up community, as it enables founders to focus on growing their companies — which is why we were bullish on leading the Series B.”

Vouch offers insurance products policies including employment practice liability, business property and general liability and cyber coverage, which have been especially designed considering the needs of the start-ups.

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By GlobalData

Vouch’s exclusive insurance coverages are underwritten by Munich Re.

Vouch entered Utah and Illinois markets in September this year. After that, it has expanded into six additional markets and plans to offer coverage across the US by the end of next year.