XL Innovate
VC Fund
Menlo Park, United States
XL Innovate is a VC fund in Menlo Park focused on Insurance and Analytics. We help create new ventures that can provide innovation and meaningful positive impact on the global insurance industry. We invest capital, energy, experience-based expertise, and the substantial resources of our limited partner, XL Catlin.XL Innovate backs entrepreneurs who are creating companies that can achieve significant scale and marketimpact. We focus on the property & casualty sector, and typically invest in the following three categories: (1) Startups we create in-house, to address emerging and underserved risks; (2) Disruptive new insurance models; and (3) Data and analytics companies with high value insurance applications.
- Total investments:
- 19
- Last investment:
- Lead investor:
- 58%
Last updated:
For AI agents: llms.txt
Industries XL Innovate invests in
Stages XL Innovate invests in
Countries XL Innovate invests in
Round sizes
Contacts
| Name | Phone | Socials | |
|---|---|---|---|
Round size
- Seed
- $2.8M–$4M
- Series A
- $4M–$20M
- Series B
- $17M–$37M
Investment Focus
Industry
- Insurance 6 (32%)
- Analytics 5 (26%)
- InsurTech 5 (26%)
- Information Technology 5 (26%)
- Big Data 4 (21%)
Stage
- Series A 6 (32%)
- Seed 4 (21%)
- Series B 4 (21%)
- Series C 2 (11%)
Country
- United States 8 (42%)
- Israel 1 (5%)
- Switzerland 1 (5%)
Team
| Name | Title | Investments | Links | |
|---|---|---|---|---|
Tom Hutton
Managing Partner
|
Managing Partner | Total investments: 10 | Find email | |
Chris Dougherty
Director
|
Director | Total investments: 0 | Find email | |
Martha Notaras
Partner
|
Partner | Total investments: 10 | Find email |
Investments
| Company | Description | Round | Links |
|---|---|---|---|
| Our transportation system is evolving. Car ownership in urban centers is peaking and consumers are increasingly choosing on-demand and shared ride services over driving themselves. At the same time, commercial and on-demand fleets are becoming increasingly reliant on mobile technology, and autonomous cars are making the move from sciencefiction to reality. As miles driven shift away from personal vehicles to commercial or shared fleets, a new framework is required for addressing safety. Zendrive is leading the evolution of safety in an era of transportation innovation and mobile ubiquity.We are dedicated to making roads safer through data and analytics.Through our product suite, we leverage mobile sensor data to provide actionable insights that improve safety for passengers and drivers worldwide. | $37M / Series B / Aug 20, 2019 | ||
| Embroker is the easiest way to intelligently ensure any business. By pairing technology and broker expertise, Embroker helps growing businesses save time and find the best value on the right coverage.As the leading digital insurance brokerage, Embroker is working to massively improve the $800 billion property and casualty (P&C) insurancemarket. Headquartered in San Francisco, we have offices in Chicago and Boston and customers in all 50 states. | $28M / Series B / Dec 01, 2018 | ||
| Slice Labs is the insurance engine behind tomorrow’s cloud-based, on-demand digital services ecosystems for the new economy. Through Slice’s Insurance Cloud Services (ICS) platform, Slice is enabling insurers, technology companies, and other service providers to build truly intelligent and intuitive, pay-as-you-go digital insurance productsprotecting the insured anytime and anywhere. Slice is licensed in the US and the UK, and recently launched in Asia Pacific. | $20M / Series A / Sep 26, 2018 | ||
| WWindward is the leading Predictive Intelligence company fusing AI and big data to digitalize the global maritime industry, enabling organizations to achieve business and operational readiness. Windward’s AI-powered solution allows stakeholders including banks, commodity traders, and major energy and shipping companies, to make real-time,predictive intelligence driven decisions, with a 360° view of the maritime ecosystem and its broader impact on safety, security, finance, and business | $16.5M / Series C / Jul 01, 2018 | ||
| Cape Analytics uses deep learning and geospatial imagery to provide instant property intelligence for buildings across the United States. Cape Analytics enables insurers and other property stakeholders to access valuable property attributes at the time of underwriting—with the accuracy and detail that traditionally required an on-site inspection,but with the speed and coverage of property record pre-fill. | $17M / Series B / Jun 22, 2018 | ||
| Lemonade operates as a full-stack insurance company powered by AI and behavioral economics and driven by social good. It is a licensed insurance carrier, offering homeowners and renters insurance. Lemonade replaces brokers and bureaucracy with bots and machine learning, delivering zero paperwork and instant everything. The company uses artificialintelligence and behavioral economics to set rates for the homes and renters it insures. Lemonade was founded in Tel Aviv, Israel, in 2015 and is headquartered in New York, NY, United States. | $120M / Series C / Dec 19, 2017 | ||
| Slice Labs is the insurance engine behind tomorrow’s cloud-based, on-demand digital services ecosystems for the new economy. Through Slice’s Insurance Cloud Services (ICS) platform, Slice is enabling insurers, technology companies, and other service providers to build truly intelligent and intuitive, pay-as-you-go digital insurance productsprotecting the insured anytime and anywhere. Slice is licensed in the US and the UK, and recently launched in Asia Pacific. | $11.6M / Series A / Oct 05, 2017 | ||
| Pillar Technologies is a real-time risk management platform for general contractors. It helps its users predict and prevent damages. Through the use of on-site sensors, the company monitors for destructive environmental conditions such as fire outbreaks, high humidity exposure, and mold growth. These damages serve as major sources of revenue lossfor general contractors and insurance companies. The features of the platform are risk education, failure forecasting, and insurance optimization.Pillar Technologies is a U.S.-based company that was founded in 2015 by Alex Schwarzkopf, Sean Iacobone, and Matt Joyal. | $2.8M / Seed / Sep 01, 2017 | ||
| GeoQuant is a revolutionary platform that fuses political science with computer science to help global investors.GeoQuant was co-founded by Mark Rosenberg, PhD, a Berkeley-trained political scientist and former Director Eurasia Group, and Dor Kelman, a computer engineer with deep experience in fast-growth Israeli startups, who was previouslylead engineer and first hire at Crossrider PLC.GeoQuant's first hire is Ross Schaap, PhD, former long-time head of Comparative Analytics at Eurasia Group, who now spearheads Data & Analytics team for GeoQuant. The company's Tel-Aviv based engineering team specializes in data science, machine learning and database architecture. GeoQuant's top line Political Risk Scores and data streams for G20 countries are now also available on the Bloomberg Terminal. | $4M / Seed / Jun 14, 2017 | ||
| Notion is a smart self-monitoring system that empowers home and property owners to be proactive in protecting their spaces, people, and possessions. The company offers data analytics, intuitive user experience, and an all-in-one, the oreo-sized sensor that allows for real-time alerts ranging from motion and temperature to water leaks and alarms sothat customers can be notified of issues at home instantly.The company was established by Brett Jurgens and Ryan Margoles in 2013 and it is headquartered in Denver, Colorado. | $10M / Series A / Jun 13, 2017 | ||
| See all 19 investments → | |||
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FAQ
What does XL Innovate invest in?
XL Innovate invests primarily in Insurance, Analytics and InsurTech startups, most often at Series A and Seed stage. Most of the 19 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.
What round sizes does XL Innovate invest in?
XL Innovate typically joins rounds of $2.8M–$4M at Seed, $4M–$20M at Series A and $17M–$37M at Series B. These are whole funding-round sizes, not XL Innovate's own check, which is rarely disclosed: the 10th–90th percentile of the confirmed public funding rounds XL Innovate took part in.
How do I contact XL Innovate?
Public channels for XL Innovate include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.
Who are the partners at XL Innovate?
The team at XL Innovate includes Tom Hutton (Managing Partner), Chris Dougherty (Director) and Martha Notaras (Partner). The Team section lists each member with their title, investment count and links.
Is Shizune's investor data accurate?
Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Oct 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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