San Francisco-based insurance startup Vouch Insurance just announced it’s opening up shop in Chicago.
Vouch says its new Chicago office will operate as its second headquarters. The office is opening with 11 employees at launch, which includes several of its key executives — like its chief insurance officer and head of claims.
From there, the company plans to grow rapidly. Vouch says it plans to triple its Chicago headcount in 2020. By the end of the year, almost half of the company’s employees will be based in Chicago. The company is actively looking to hire for sales, insurance operations, software engineering and finance roles.
“As one of the nation’s top-performing startup markets and a global insurtech hub, Chicago was a natural second home for us,” Vouch CEO and co-founder Sam Hodges said in a statement. “From its top-quality tech and insurance talent to its central location, Chicago is the ideal city for Vouch to lay the foundation for nationwide growth. We look forward to expanding our roster of local clients.”
Vouch’s 6,000-square-foot office will be located in One North LaSalle, an Art Deco skyscraper from 1929 located in the Loop. In addition to the building’s historic lobby, the building has several amenities, like a rooftop deck, conference rooms, lounges and a fitness center. The company’s office is also dog friendly.
This new office comes at a time of expansion for the company. Vouch raised a $45 million Series B funding round led by Y Combinator’s Continuity Fund in November of 2019, just two months after raising a $24.5 million Series A.
Vouch specializes in delivering insurance to startups. Since running a startup is a risky endeavor, the company has designed a digital platform to provide startups with tailored insurance packages to help them mitigate risk. The platform is currently available in 15 states, but the company plans to expand its reach nationwide by the end of the year.
