Denver, CO – January 8, 2025 – Parsyl Inc., a data-powered insurer of complex supply chains, today announced it has raised $20 million in new funding to accelerate its growth strategy. The Series C financing is led by The Lightsmith Group, a global private equity firm focused on resilience to climate change. Additional participants in the round include existing investors HSCM Ventures, GLP Capital Partners, Lineage Ventures and FirstTracks Ventures. Guy Carpenter Capital and Advisory advised Parsyl on the transaction.

Parsyl has experienced significant growth in the last 24 months through its focus on insuring underserved food, beverage and pharmaceutical commodities in the marine cargo space. The upstart insurer, which evolved out of its core technology proposition, blends new data sources and modern technology with traditional underwriting expertise to help clients build more resilient and adaptable supply chains.

“We are thrilled to have the support of The Lightsmith Group and our existing investors as we continue to grow and innovate,” said Ben Hubbard, Parsyl CEO and cofounder. “This funding further validates our vision and will enable us to strengthen our team and our technology, while we expand our underwriting appetite, product offerings and geographies to impact more critical supply chains.”

Parsyl operates in the US and London insurance markets through a Managing General Underwriter (MGU) and its own managed syndicate at Lloyd’s of London, which it utilizes to lead one of the largest marine cargo consortia in the London market. Parsyl has more than 20 different providers of third party capacity across its operations including delegated underwriting, consortia, reinsurance and Funds at Lloyd’s capacity providers.

“Climate change is disrupting complex supply chains. Parsyl provides clients with a dynamic solution to this dynamic problem,” commented Jay Koh, Managing Director of The Lightsmith Group. “We are proud to partner with Parsyl as they apply AI and data to help clients address critical supply chain risks. Climate resilience is supply chain resilience.”

Parsyl works with customers of all sizes across a range of industries and geographies to offer marine cargo coverage for goods in storage and transit. Parsyl’s access to diversified supply chain data and its use of the latest cloud-based tools, generative AI and machine learning techniques, creates underwriting and cost advantages that allow customers to benefit from more comprehensive and affordable coverage, more efficient claims processing and insights that support risk reduction.

For more information about Parsyl and its plans for the future, visit parsyl.com.

About Parsyl

Parsyl is an insurer of complex supply chain risks that uses enhanced data and technology to better understand, price and mitigate risk. Parsyl offers its customers more tailored underwriting and insights-based risk management that reduces waste and saves money. Parsyl leads the Essential Consortium at Lloyd’s of London, is a Lloyd’s Coverholder, and operates Syndicate 1796, the first mission-driven syndicate at Lloyd’s. Parsyl offers a full suite of A-rated cargo insurance solutions, including Cargo and Stock Throughput, Shipper’s Interest, Cargo Legal Liability and Warehouse Legal Liability. Parsyl is based in Denver, CO and London, England and can be found at parsyl.com.