Send Technology Solutions is set to expand in the UK and in the US following a recent £9 million boost in Series A funding. It was a round led by Prisian VC Breega and Mercia’s North Venture Capital Trust, marking the startup’s first external funding.
Send’s core product is an SaaS underwriting workbench designed to streamline operations, automate tasks and free up underwriters to focus on core work. It is a one-stop desktop for underwriters providing a single place for managing new business, renewals, and endorsements.
Established in 2017, Send was co-founded by Ben Huckel, Matt McGrillis and Andy Moss, who met while working for an insurance tech provider. They call the platform the “most advanced underwriting workbench on the market.”
“The funding will enable us to build on our first-mover advantage, scale up the business and establish Send as the market-leading underwriting software platform,” Moss said.
The Send Underwriting Workbench is already used by a number of major UK carriers – the startup also landed a landmark deal with its first US customer Bowhead Speciality Underwriters in January. Currently, the platform processes over £3.5 billion in GWP annually.
“We are delighted to lead this round and support Send in its conquest of new international markets,” said Maxence Drummond, venture capital principal at Breega. “To date, Send has the most reliable and user-friendly solution in the underwriting workbench market. Send is paving the way for a more agile industry, helping insurers, reinsurers and MGAs to transform traditional practices. At Breega, we strongly believe in their potential to become a global category leader in this space.”
“Up to 40% of an underwriter’s time can be spent switching between different systems,” said Hugo Lough, investment manager at Mercia. “Send’s solution provides a single tool that improves productivity and provides data for decision-making. The business has rapidly gained traction and, at a time when insurers are looking to streamline processes, we believe it has huge potential. The investment will accelerate its growth in the UK and internationally.”
Breega and Mercia have taken a stake in Send as part of the funding. Drummond has also joined Send’s board.
