Fundraising Fox

Authentic

11 known investors

Authentic builds technology infrastructure for specialized insurance programs, enabling brokers and carriers to develop tailored coverage for specific niches and classes. The platform uses data analytics to improve underwriting decisiveness and speed in commercial insurance.

Also known as Authentic Insurance

Founders & leadership

CRCole Riccardi
Cole RiccardiCEO & Cofounder
KBKyle Babirad
Kyle BabiradCOO & Cofounder
SKSaravana Kumar
Saravana KumarCTO

Investors · 11

Also in the syndicate · 2

ClocktowerMischief Ventures

Funding

SEC filings, press & company announcements

$16.5M disclosed across 2 of 3 rounds · 2022–2024

Source: company announcements and press reports — follow each round's link for the claim.

Company profile

researched Aug 2026

Authentic (Authentic Insurance) is a New York-based insurtech that supplies the infrastructure behind specialized commercial insurance programs. Its platform positions itself as an end-to-end program management system: a single operating environment holding all of a partner's programs, a rate-quote-bind engine, configurable pricing based on the partner's own data with pre-set default coverages, limits and options, and real-time reporting on book performance, upcoming renewals and payments.

The company's earlier described model applied the captive insurance structure to software companies and communities. SaaS platforms, franchisors, associations and other communities could establish their own captive insurance programs for small-business coverage, integrating with "one line of code," while Authentic handled underwriting, claims management, and capital markets and reinsurance in exchange for a fee. That offering served businesses with less than $5 million in annual revenue, with planned expansion into workers' compensation, health insurance products and benefits.

Authentic describes its team as a mix of insurance entrepreneurs, technologists and finance-oriented operators, and frames the shift toward programs — tailored coverage designed around specific classes and niches — as a structural change in the market driven by fragmentation and expanding specialty distribution. Its stated underwriting thesis is that year-over-year data patterns allow faster, more decisive risk selection and separation of good data from bad.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported
Average increase in broker commissionsJan 202625%
Customers (partner platforms)May 2024more than 10
HeadcountMay 202416 people
Open roles listedJan 20266 jobs
Policies sold through partnersMay 2024more than 100
Small businesses reached via partnersMay 20241,000,000 small businesses
Total employeesJan 202670 people

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Competitors · 7

by search overlap
Libertymutual12 shared keywordsLiberty Mutual is an insurance provider offering personal insurance products including car, home, homeowners, and renters coverage to consumers. The company provides online quotes, claims handling, and support through both its website and mobile app.
Thimble8 shared keywordsThimble is a US insurtech selling on-demand liability insurance to small businesses and independent workers by the hour, day, week or month.
Nextinsurance8 shared keywordsNEXT Insurance (ERGO NEXT) sells small-business insurance online, including general liability policies with product liability coverage for retailers, online sellers, wholesalers, and product makers. Customers can get a quote, customize coverage, and buy policies in about 10 minutes, with a mobile app for managing documents and filing claims.
Covered8 shared keywordsCovered is a digital insurance agency that provides integrated homeowners and specialty insurance solutions for mortgage institutions across the full mortgage lifecycle (origination, refinancing, and servicing). The platform connects borrowers with 80+ carriers through an API-first marketplace and embedded UX components, with compliance certifications for GLBA, RESPA, and SOC 2 Type II.
Credible7 shared keywordsCredible operates an online marketplace where consumers compare prequalified rates for personal loans, student loan refinancing, private student loans, mortgages, mortgage refinancing, and insurance from multiple lenders and providers side-by-side without affecting their credit score. It is not a lender but partners with financial service providers, and also offers free tools such as a debt tracker and credit score monitoring.
Policy Genius7 shared keywordsPolicygenius is an online insurance marketplace that provides consumers with free, tailored quotes and support from licensed agents across life, auto, home, and disability insurance. It helps individuals compare policies from multiple insurers and choose coverage that fits their needs.
Openly6 shared keywordsOpenly provides home insurance products and services for independent agents and consumers through a technology-enabled platform. The company combines actuarial science and machine learning to streamline quoting, policy management, and claims processes.

Companies competing with Authentic for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline · 3

launches, deals, and filings
May 2024
Authentic raises $11M Series A led by FirstMark Capital

Authentic announced an $11 million Series A round led by FirstMark Capital, with participation from Slow Ventures, Altai Ventures, MGV, Upper90 and Commerce Ventures, to expand its team, operations and product development including workers' compensation, health insurance products and benefits.

$11M source ↗

May 2024
Platform partnerships with Mindbody, Restaurant365, theCut and PushPress

Authentic partners with software platforms including Mindbody, Restaurant365, barber booking app theCut and gym operating system PushPress to offer insurance to their small-business customers.

source ↗

Sep 2023
Authentic launches its captive insurance product

Authentic made its product available to customers, applying the captive insurance model to SaaS platforms and communities offering small-business coverage.

source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Authentic do?
Authentic provides technology infrastructure that lets brokers, carriers and platforms launch specialized insurance programs.
Who founded Authentic?
Authentic was founded by Cole Riccardi, Kyle Babirad.
Who are Authentic's investors?
Authentic's investors include Altai Ventures, Clocktower Ventures, Commerce Ventures, Core Venture Capital, Slow Ventures, Upper90, Core Innovation Capital, General Atlantic and 1 more.
How much funding has Authentic raised?
Authentic has disclosed $16.5M raised across 2 of its 3 known rounds.