# Authentic

> Authentic is a New York insurtech building the infrastructure that lets software companies, franchisors, and associations launch their own insurance programs - so-called captives - for the small businesses they already serve. Its 'Captive in a Box' platform handles the parts that normally take years and a team of specialists: underwriting, rate filings, actuarial work, reinsurance, capitalization, regulatory compliance, and claims. Partners such as Mindbody, Restaurant365, PushPress, and theCut can embed tailored coverage for gyms, salons, restaurants, and other Main Street businesses through a single integration, while member businesses can share in the savings when claims run low.

- **Founded:** 2022
- **Headquarters:** New York, New York, United States
- **Founders:** Cole Riccardi (Founder & CEO)
- **Team size:** ~58 employees
- **Products:** Captive in a Box, Embedded Program Insurance / Rate-Quote-Bind engine, Business Owner's Policies for Main Street, Workers' compensation (expansion)
- **Notable:** Raised $16.5M total ($5.5M seed + $11M Series A) within roughly two years of founding, Series A led by FirstMark Capital with Slow Ventures, Altai Ventures, MGV, Upper90 and Commerce Ventures, Signed 10+ platform partners including Mindbody, Restaurant365, PushPress and theCut in its first year

## Products & services

- **Captive in a Box** — An end-to-end platform that lets software companies, associations and communities stand up a captive insurance program without carriers - handling underwriting, rate and actuarial filings, reinsurance, capitalization, domiciling, regulatory compliance and claims management.
- **Embedded Program Insurance / Rate-Quote-Bind engine** — An integrated operating system with a unified rate-quote-bind engine that partners embed via a single integration, letting their small business customers quote and buy tailored Business Owner's Policies (BOP) inside the tools they already use.
- **Business Owner's Policies for Main Street** — Customized commercial coverage for gyms, salons, restaurants, barbershops and other small businesses with under $5M in annual revenue, with member dividends when claims run low.
- **Workers' compensation (expansion)** — Planned expansion of lines beyond BOP into workers' compensation and, over time, additional coverage types including health.

## Achievements

- Raised $16.5M total ($5.5M seed + $11M Series A) within roughly two years of founding
- Series A led by FirstMark Capital with Slow Ventures, Altai Ventures, MGV, Upper90 and Commerce Ventures
- Signed 10+ platform partners including Mindbody, Restaurant365, PushPress and theCut in its first year
- Reached more than 1 million small businesses through partner networks
- Launched its Captive in a Box product in September 2023 and sold 100+ policies to date
- Positioned by investors as pioneering the captive model for small businesses

## Latest updates

- **2024-06** — Announced an $11M Series A led by FirstMark Capital, bringing total funding to $16.5M, with plans to expand into workers' compensation and health lines and grow the team.
- **2024-05** — Closed the Series A round (last raised May 2024).
- **2023-09** — Launched the Captive in a Box platform and began selling policies through partners.

## Links

- Website: https://authenticinsurance.com
- LinkedIn: https://www.linkedin.com/company/authentic-insurance

---

Profile page: https://yespress.io/authentic
Published by YesPress — https://yespress.io
Last updated: 2026-07-22