1Fort, a New York-based AI platform designed to streamline business insurance processes, has raised $7.5 million in funding, bringing its total funding to $10 million.
Investors
The oversubscribed round was led by Bonfire Ventures, with participation from Draper Associates, Karim Atiyeh (founder of Ramp), and existing investors including Village Global, Operator Partners, 8-Bit Capital, Character VC, and Company Ventures.
Bonfire Ventures is a seed-stage venture capital firm based in Santa Monica, California, specializing in early investments in B2B software startups. The firm manages over $1 billion in assets, has invested in more than 150 companies, and has supported over 50 exits totaling more than $18 billion in value.
1Fort Use of Funds
The company will use the funds to enhance its AI capabilities, strengthen broker and carrier partnerships, and support talent acquisition to accelerate growth.
About 1Fort
Founded in 2022 by Anthony Marshi and Toby Hung, 1Fort is an InsurTech company that provides AI-powered business insurance solutions. The company leverages AI to automate various broker workflows, including autofilling insurance applications, retrieving quotes from carriers, comparing coverages, and integrating payment and financing options. The platform also offers complementary risk management tools to help businesses proactively manage their insurance policies and minimize claims. 1Fort is on a mission to build the AI platform for the future of business insurance.
Funding Details
Company: 1Fort, Inc.
Raised: $7.5M
Round: Unknown
Funding Date: April 2025
Lead Investor: Bonfire Ventures
Additional Investors: Draper Associates, Karim Atiyeh, Village Global, Operator Partners, 8-Bit Capital, Character VC, Company Ventures
Company Website: https://www.1fort.com/
Software Category: AI-Insurance
Source: https://www.prnewswire.com/news-releases/1fort-raises-7-5m-to-automate-business-insurance-with-ai-302430881.html