HOLLY SPRINGS — Certificial, which provides solutions for business insurance monitoring, has raised more than $15 million according to an SEC filing Wednesday. The funding is all equity and came from nine investors, led by Nyca Partners, a fintech investment company out of New York and San Francisco.
The company’s primary focus is its patented “Smart COI Network,” providing real-time Certificates of Insurance to help simplify compliance management. According to its website, the company has provided COIs for over 60,000 firms.
According to the press release, it has been a busy year for the company, which has seen 40 times the number of transactions over the last year. The company also made Inc. magazine’s Best Places to Work list last year. It has been a fully remote employee company since it was started in 2021.
“As we near a significant inflection point in the adoption of our platform, Certificial has raised this capital to further empower how insurance is shared amongst businesses and to help support our organization’s operational growth, “said Peter Teresi, Certificial Co-Founder and CEO in the press release. “Nyca’s investment confirms Certificial is on path to creating an innovative network driven by data, replacing email, faxes and traditional mail.”
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Certificial last raised money in 2021, reporting $5.8 million in equity funding. That round was led by IA Capital and also included Cofounder Captial based out of Cary. Both companies participated in this round of funding as well.
Other investors included IA Capital, Fin Capital, Cofounders Capital, Cameron Ventures, and Nationwide Ventures.
