Understory
Madison, US · Founded 2012 · Delaware corporation · 34 employees on LinkedIn · 8 known investors
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.
Founders & leadership
Understory was founded in 2012 by Alexander Kubicek.
AK
Alexander KubicekFounder
AJ
Alexander JacobsExecutive
SB
Steve BenfieldExecutive
PW
Patricia WyngaardExecutive
JA
Jack AlexanderExecutive
JM
Jim MarshallExecutive
BD
Bryan DowNamed on SEC filing30 Under 30 2019
Board
PA
GT
Gregory T. RobinsonBoard director
Investors · 8
CSA Partners LLCMilwaukee
MS&AD VenturesMenlo Park · $500K – $3M
Prelude VenturesSan Francisco · $100K – $5M
RevolutionWashington, D.C. · $100K – $1M
True VenturesSan Francisco · $500K – $3Mvia Puneet Agarwal · board
VTF CapitalLas Vegas · $300K – $2M
Greenspring AssociatesreportedPortland
RRE VenturesreportedNew York · $5M – $15M
Reported raises · per SEC filings
Form D private placements$80.7M disclosed across 11 rounds · 2014–2023
▶$15MraisedApr 2024 · 6 investors · Other TechnologyRule 506(b)
▶$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
▶$13.1MraisedJun 2023 · 8 investors · Other TechnologyRule 506(b)
▶$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
▶$12MraisedAug 2022 · 8 investors · Other TechnologyRule 506(b)
▶$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
▶$3MraisedAug 2020 · 12 investors · Other TechnologyRule 506(b)
▶$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
▶$5.7MraisedDec 2019 · 25 investors · Other TechnologyRule 506(b)
▶$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
▶$7.2MraisedJul 2019 · 5 investors · Other TechnologyRule 506(b)
▶$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
▶$7.5MraisedNov 2018 · 9 investors · Other TechnologyRule 506(b)
▶$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
▶$5.7MraisedApr 2018 · 24 investors · Other TechnologyRule 506(b)
▶$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
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Competitors · 3
by search overlapInszoneinsurance4 shared keywordsInszone Insurance is an insurance agency providing personal and commercial insurance coverage to individuals and businesses.
The Weather Company4 shared keywordsThe Weather Company provides weather forecasting and environmental decision-intelligence products, delivering data and insights through an AI engine, global sensor network, and APIs. It serves sectors including aviation, media, government and defense, advertising, and general enterprise operations.
Amwins4 shared keywordsAmwins 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 competing with Understory for the same Google search keywords, organic and paid, via search-intersection analysis.
In the news
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, Greenspring Associates, RRE Ventures.
- 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.