Texas-Based Injury Insurance Startup Spot Raises $33 Million

Spot, an Austin, Texas-based tech startup offering on-demand injury insurance, announced it has raised $33 million in funding, including $25 million in equity and $8 million in debt.

The round was led by Ensemble VC, with participation from Sozo Ventures and all existing investors. Collin West, Managing Partner at Ensemble VC, will be joining Spot’s Board of Directors, along with Zach Abrams, former Chief Product Officer of Brex, who will be joining as Spot’s first outside board member. Kevin Tsui will join the company as Chief Revenue Officer. Spot will use the new capital to ramp up their strategic partnership approach.

Spot provides affordable accidental injury coverage, which can be used with or without traditional health insurance.

Its partners include Ikon Pass, USA Cycling, Chicago Triathlon (via LifeTime), USA BMX, Powder Mountain, National Collegiate Rugby, and athleteReg.