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Understory

Madison, US · Founded 2012 · Delaware corporation · 34 employees on LinkedIn · 14 known investors

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Understory provides insurance products powered by a proprietary weather risk model and network of ground-based sensors to assess and price severe weather risks globally. The company enables insurers to offer affordable coverage for weather-related losses and triggers automated payouts when severe weather is detected.

Climate TechInsurTechIoT

Founders & leadership

Understory was founded in 2012 by Alexander Kubicek.

AK
Alexander KubicekFounder
AJAlexander Jacobs
Alexander JacobsVP Engineering2013–2016Alexander Jacobs holds a Master of Science in Electrical Engineering from the University of Arizona and has worked as a software engineer in the computer software industry, with expertise in C programming for embedded systems.
SBSteve Benfield
Steve BenfieldExecutive
PW
Patricia WyngaardExecutive
JAJack Alexander
Jack AlexanderExecutive
JM
Jim MarshallExecutive
BD
Bryan DowFounder30 Under 30 2019
AK
Alex KubicekFounder
LD
Lars Daniel Blom RasmussenFounder
LD
Lars Daniel RasmussenFounder
LK
Lasse KjærFounder

Board

PAPuneet Agarwal
Puneet AgarwalBoard directorInvestor at True Ventures

Investors · 14

MS&AD Ventureslisted by MS&AD VenturesMenlo Park · $500K – $3M

How we know: MS&AD Ventures's portfolio page · open dataset · 5k.vc investor directory · Not right? Tell us

Prelude Ventureslisted by Prelude VenturesSan Francisco · $100K – $5M

How we know: Prelude Ventures's portfolio page · a partner's Signal profile · Not right? Tell us

Revolutionlisted by RevolutionWashington, D.C. · $100K – $1M

How we know: Revolution's portfolio page · Not right? Tell us

True Ventureslisted by True VenturesSan Francisco · $500K – $3Mvia Puneet Agarwal · board

How we know: True Ventures's portfolio page · board seat on SEC Form D · funding news · company funding news (hacker news) · techcrunch.com · open dataset · 5k.vc investor directory · Not right? Tell us

VTF Capitallisted by VTF CapitalLas Vegas · $300K – $2M

How we know: the VCSheet dataset · Not right? Tell us

WAFTTlisted by WAFTT
4490 VenturesreportedMadison · $6M – $10M

How we know: open dataset · 5k.vc investor directory · Not right? Tell us

Greenspring AssociatesreportedPortland

How we know: funding news · Not right? Tell us

People VenturesreportedTaastrup · $270K – $2.2M

How we know: open dataset · 5k.vc investor directory · Not right? Tell us

RRE VenturesreportedNew York · $5M – $15M

How we know: techcrunch.com · the VCSheet dataset · Not right? Tell us

SEED Capital DenmarkreportedCopenhagen · $2M – $4M

How we know: open dataset · 5k.vc investor directory · Not right? Tell us

SK Venturesreported

How we know: techcrunch.com · open dataset · 5k.vc investor directory · Not right? Tell us

Also in the syndicate · 1

Vegas Tech Fund

Reported raises · per SEC filings

Form D private placements

$80.7M disclosed across 11 rounds · 2014–2023

▶$15MraisedApr 2024 · 6 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Puneet AgarwalDirector
  • Tim WoodwardDirector
  • Gregory RobinsonDirector
  • David LemontDirector
  • Alexander KubicekExecutive Officer, Director, Promoter
Offering amount
$15M
Amount sold
$15M
First sale
Nov 2023
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$13.1MraisedJun 2023 · 8 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Gregory RobinsonDirector
  • Puneet AgarwalDirector
  • David LemontDirector
  • Alexander KubicekExecutive Officer, Director, Promoter
Amount sold
$13.1M
First sale
May 2023
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$12MraisedAug 2022 · 8 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Gregory T. RobinsonDirector
  • Bryan DowExecutive Officer
  • Alexander KubicekExecutive Officer, Director, Promoter
  • David LemontDirector
  • Puneet AgarwalDirector
Offering amount
$12.5M
Amount sold
$12M
First sale
Oct 2020
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$3MraisedAug 2020 · 12 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Gerardo M. BalboniExecutive Officer
  • Raymond HarrisDirector
  • Craig IveExecutive Officer, Director
  • Greg DumontDirector
  • Alan GotthardtDirector
  • Armando CoronellDirector
  • John C. AlexanderExecutive Officer, Director
  • Larry MohlDirector
  • Amar DuggasaniDirector
Offering amount
$3M
Amount sold
$3M
Minimum investment
$50K
First sale
Jul 2020
Incorporated
Limited Liability Company, Georgia, 2016
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$5.7MraisedDec 2019 · 25 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Alan GodhartExecutive Officer
  • Jack AlexanderExecutive Officer, Director
  • Amar DuggasaniExecutive Officer, Director
  • Raymond HarrisDirector
  • Greg DuMontDirector
  • Louise WardExecutive Officer
  • Ahmad AslamiExecutive Officer
Offering amount
$8.4M
Amount sold
$5.7M
Minimum investment
$6.1K
First sale
Aug 2019
Incorporated
Limited Liability Company, Georgia, 2016
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$7.2MraisedJul 2019 · 5 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Alexander KubicekExecutive Officer, Director
  • Bryan DowExecutive Officer
  • David LemontDirector
  • Puneet AgarwalDirector
  • Gregoary T. RobinsonDirector
Offering amount
$8.5M
Amount sold
$7.2M
First sale
Apr 2019
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$7.5MraisedNov 2018 · 9 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Gregory T. RobinsonDirector
  • David LemontDirector
  • Alexander KubicekExecutive Officer, Director
  • Bryan DowExecutive Officer
  • Puneet AgarwalDirector
Offering amount
$8.2M
Amount sold
$7.5M
Minimum investment
$25K
First sale
Sep 2018
Incorporated
Corporation, Delaware
Federal exemptions
06b
Full filing on SEC EDGAR ↗
▶$5.7MraisedApr 2018 · 24 investors · Other Technology
Rule 506(b)
Officers, directors & promoters on the filing
  • Raymond HarrisDirector
  • Patty WyngaardExecutive Officer
  • Jack AlexanderExecutive Officer, Director
  • Jim MarshallExecutive Officer, Director
  • Steve BenfieldExecutive Officer
Offering amount
$6M
Amount sold
$5.7M
Minimum investment
$6.1K
First sale
Apr 2018
Incorporated
Limited Liability Company, Georgia, 2016
Federal exemptions
06b
Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

Related companies · 4

InszoneinsuranceInszone Insurance Services is a full-service insurance agency that offers personalized, comprehensive insurance solutions across multiple states in the USA. The company operates as a customer-centric broker maintaining relationships with multiple carriers to help customers find competitive coverage options.
Hub InternationalGlobal insurance brokerage providing P&C, life and health, and risk management products.
The Weather CompanyThe Weather Company provides weather data, forecasting, and software solutions for aviation operations, media broadcasters, government and defense organizations, and advertisers. The company offers products for flight dispatch optimization, weather content production, and weather-targeted advertising across multiple enterprise sectors.
AmwinsAmwins is a wholesale insurance broker and specialty insurance distributor that provides retail agencies and insurance carriers with access to specialty markets, proprietary products, actuarial services, and program development. It also partners with and acquires insurance businesses, holding trading relationships with over 23,000 retail agencies.

Companies working in the same space as Understory.

In the news

Climate Risk-Solving Insurance Provider Understory Secures $15 Million Series A Fundingprnewswire.com · Jun 2024Understory Raises $1.9M To Deploy Its Network Of Ground-Level Weather Stationstechcrunch.com · May 2014

Frequently asked questions

What does Understory do?
Understory provides insurance products powered by a proprietary weather risk model and network of ground-based sensors to assess and price severe weather risks globally. The company enables insurers to offer affordable coverage for weather-related losses and triggers automated payouts when severe weather is detected.
Who founded Understory?
Understory was founded by Alexander Kubicek in 2012.
Who are Understory's investors?
Understory's investors include CSA Partners LLC, MS&AD Ventures, Prelude Ventures, Revolution, True Ventures, VTF Capital, WAFTT, 4490 Ventures and 5 more.
How much funding has Understory raised?
Understory has disclosed $80.7M raised across 11 rounds.
Where is Understory headquartered?
Understory is headquartered in Madison, US.