Here are seven things to know:
- Spot’s inception came out of a 2018 partnership between founders Maria Goy and Matt Randall, who wanted to set “the foundation to drive change” in insurance, they told TechCrunch.
- The company’s model includes subscription-based injury insurance plans or one-off policies alongside partners and events.
- Spot is partnered with a range of athletic organizations, including USA Cycling, the National Ski Patrol and USA BMX.
- The base subscription plan is $25 a month and covers up to $20,000 in bills after an injury. Coverage works both in tandem with health insurance or if customers don’t have a plan.
- So far, individual plans apply to 42 states, while group plans are nationwide.
- The injury insurer has seen rapid growth, increasing members 800 percent and partners 300 percent since last year.
Spot most recently made headlines for raising $17.5 million in fundraising, according to TechCrunch. They plan to pursue series A funding within the next nine months that would add additional policies to the mix.
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