(Spot “ambassador” mountaineer Adrian Ballinger. Source: Spot.)
Spot, an Austin, Texas-based InsurTech providing digital, on-demand injury insurance, has announced it has raised $17.5 million in funding, including $15 million in equity and $2.5 million in debt. The round was led by GreatPoint Ventures(San Francisco), with participation from Montage Ventures (Menlo Park, Calif.), Mutual of Omaha (Omaha, Neb.), MS&AD (Tokyo), and Silverton Partners (Austin, Texas). Mike McCormick, Principal at GreatPoint Ventures, will join Spot’s Board of Directors. Spot reports that it will use the new capital to grow the team, forge new partnerships, and increase marketing efforts.