Casa Verde Teams Up with Euclid VC, Inter-Atlantic Capital Group, and Venturion Capital, Former GP at Aquiline, to Finance Next Stage of Growth to Build Specialty Insurance Solutions and Improve Access, Pricing and Risk Capacity for Operators
Westport, CT, Jun. 22, 2023 – Frontier Risk Group (“Frontier Risk” or “the Company”) announced the closing of its Seed financing round, bringing together venture investors from the cannabis and insurance sectors to build the first tech-enabled insurance ecosystem to better service cannabis risk. The round was led by Casa Verde, a pioneer in cannabis technology investing, with participation from Euclid VC, Inter-Atlantic Capital Group, and Venturion Capital to bring insurtech expertise to the group. Frontier Risk is led by James Whitcomb, the former CEO of Parallel, Inc. and cannabis industry trailblazer, alongside a seasoned team of brokerage, underwriting, and technology professionals from world-leading firms.
“We are thrilled to partner with Casa Verde and this leading consortium of insurance and technology investors to expand our platform across an industry in desperate need of a solution,” said Frontier Risk Founder and Chief Executive Officer James Whitcomb.
“This capital, alongside the deep expertise of these investors, further positions Frontier Risk to pioneer innovative risk management solutions for cannabis and other breakthrough industries in alternative wellness.”
Whitcomb founded Frontier Risk after realizing that a windfall of reinsurance capacity would eventually come to cannabis. However, in order to do so, it would need to be ushered in with better data and underwriting techniques to make pricing more efficient. “We built many of the original, best-in-class cannabis supply chains by hand, so we know where the risk is,” Whitcomb added. “This lets us help reinsurance understand the rich cannabis datasets through the proprietary underwriting engine we’re building.”
Casa Verde Capital will join Frontier Risk’s Board of Directors alongside Inter-Atlantic Capital Group and James Whitcomb. “Led by a first-class team of cannabis AND insurance experts, Frontier Risk has an exciting opportunity to disrupt an antiquated industry with data-driven, technology-enabled solutions,” said Karan Wadhera, Managing Partner of Casa Verde.
Built from the ground up using modern cloud-native technology, Frontier Risk’s cannabis ecosystem will allow for embedded partnerships, efficient distribution, superior risk selection and proprietary digital applications, which are set to become the new industry standard in the cannabis sector.