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State Auto Labs Corporate Venture Fund

REV1 VENTURES

Funding Amount

$25,000,000

Deadline

Rolling / Open

Grant Type

foundation

Overview

State Auto Labs Corporate Venture Fund

Overview: A $25 million corporate venture fund launched by State Auto Labs in partnership with Rev1 Ventures to support InsurTech and FinTech startups driving innovation in the insurance industry.

Status: Announced September 26, 2017

Geographic Scope: Not specified, but focus on insurance industry innovation

Fund Size: $25 million

Focus Areas: Four key investment areas:

    Investment Focus Areas

  • Internet of Things & Wearables: Technologies that connect, collect and communicate with people, vehicles, offices and homes
  • Data-Driven Innovation: Machine learning and artificial intelligence for analytics and decision-making
  • Distribution Technologies: Enhanced traditional and emerging channels, improved customer service and policyholder value
  • Products & Operational Solutions: Anticipating changing insurance customer needs, sharing economy, insurance on demand, reinvention of claims

Key Features:

  • Unique collaboration between corporate (State Auto Insurance) and venture (Rev1 Ventures) partners

  • Connects InsurTech and FinTech startups with capital

  • Access to technologists and insurance industry experts

  • Early adopter relationship with State Auto Insurance

  • Identifies transformative technologies in insurance
  • Partners:

  • State Auto Labs Corp. (innovation arm of State Automobile Mutual Insurance Company)

  • Rev1 Ventures
  • Contact Information:

  • Website: www.stateautolabs.com

  • Rev1 Ventures: (614) 487-3700

  • Address: Rev1 Labs, 1275 Kinnear Rd. Columbus, Ohio 43212 or Rev1 at The Peninsula, 330 Rush Alley Suite 100, Columbus OH 43215
  • Focus Areas & Funding Uses

    Fields of Work

    startupstechnology

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