7/23/2023 0 Comments Neptune flood insurance competitor![]() The company aims to simplify the insurance-buying process while offering competitive rates and comprehensive coverage options. By leveraging advanced technology, data analytics, and user-friendly online tools, Neptune Flood offers consumers and businesses a fast and efficient way to obtain flood insurance policies tailored to their needs. Neptune Flood is an AI-driven insurance company specializing in providing flood insurance solutions for residential and commercial properties. Howden Tiger Capital Markets & Advisory acted as financial advisor to Bregal Sagemount and FTV. LLC served as exclusive financial advisor to Neptune. With this growth investment, Greenberg and Vostrizansky will join Neptune’s board of directors. Sagemount and FTV’s investment in Neptune will help enable the Company to accelerate its growth plans and expand its customer base while continuing to enhance its technology platform and develop new products to meet the evolving needs of homeowners and businesses. Neptune’s visionary management team has built a differentiated technology platform that we believe has positioned the company for expansive growth in the years ahead, and we welcome the opportunity to leverage our domain expertise and strategic relationships in our Global Partner Network® to contribute to the company’s growth journey.” Mike Vostrizansky, Partner at FTV, added, “We are excited to support Neptune as they continue to transform the way that homeowners and businesses purchase flood insurance – increasing consumer awareness and adoption. “The Company has truly disrupted the traditional flood insurance market and we are excited to support them as they continue to bring their insurtech solution to more customers.” “Sagemount has been investing in and following the insurance and MGA markets for several years and we are incredibly impressed by the innovative technology that Neptune has built,” added Blair Greenberg, Partner at Sagemount. “Both Sagemount and FTV have established track records of insurtech growth investments and expertise in scaling technology-enabled businesses, something that set them apart from other investors we saw in the market and made them the ideal partners for our next phase of growth.” “We are thrilled to be partnering with Sagemount and FTV as we continue to build our business and achieve our mission of making flood insurance more accessible, helping customers better protect their homes and businesses from the devastating effects of flooding,” said Trevor Burgess, President & CEO of Neptune. Neptune’s proprietary AI platform, Triton, instantly assesses flood risk on a property-by-property basis, allowing the Company to provide an accurate assessment of risk, personalize pricing for customers, and offer competitive premiums. Founded with the goal of changing the way consumers and businesses think about and buy insurance, the Company has disrupted the traditional flood insurance market, offering a digital platform that enables insurance agents and customers to obtain coverage in mere minutes. Petersburg, Florida, Neptune provides affordable and value-added flood insurance policies to over 150,000 homeowners, renters, and businesses in 48 states and Washington, D.C. Financial terms of the transaction were not disclosed. Sagemount and FTV will acquire a substantial minority stake in the Company, with Neptune CEO and management maintaining majority ownership. NEW YORK – Bregal Sagemount (“Sagemount”) and FTV Capital (“FTV”), two leading growth-focused private equity firms, today announced a strategic growth investment in Neptune Flood Incorporated (“Neptune” or the “Company”), a leading digital insurtech platform and private flood insurance provider.
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