New York-based Inshur has raised $US35 million ($53 million) in its mission to “revolutionise commercial auto insurance”.

The business provides embedded insurance and technology for customers such as Uber and Amazon.

The funding was secured from private equity firm Trinity Capital.  

“This capital is a significant vote of confidence in our strong business fundamentals and clear strategic growth plan,” Inshur said.  

The funding will help it develop insurance solutions for the autonomous vehicle market and AI capabilities in underwriting and real-time pricing.

“With Trinity Capital’s support, we’re accelerating our US footprint, expanding key partnerships and advancing our position in the future of insurance for autonomous mobility,” CEO Dan Bratshpis said.

Inshur is on track to top $US100 million ($152 million) of revenue in the next 12 months, he says.  

Munich Re Ventures invested in Inshur in 2019 and says it is “transforming the experience commercial drivers have with insurance. We are proud to have been with them since the beginning of their journey.”

Inshur, founded in 2016, has teams in New York and the UK. In April, it launched an insurance product for Uber Eats’ “two-wheel couriers” in the Netherlands.