Early Investors Behind SpaceX Double Down on Three-Time Founder Tanner Hacketts Latest Company, Bringing Total Funding to $106M LOS ANGELES--(BUSINESS WIRE)-- Counterpart, the specialty insurance...

Counterpart, a specialty insurance company, has raised $50 million in a Series C round led by Valor Equity Partners, bringing total funding to $106 million. The company provides professional liability, employment practices liability and directors and officers insurance for small businesses. The funding comes as employment-related litigation risks surge. The US Equal Employment Opportunity Commission recovered $528 million through pre-litigation enforcement in FY 2025, its highest recovery in 60 years. AI adoption is increasing exposure, with 76% of small business owners using AI but only 14% fully integrating it. Despite growing risks, fewer than 33% of small businesses carry relevant insurance policies. Counterpart has processed over 250,000 applications and written more than 35,000 policies, reporting nearly 175% premium growth in 2025.

Counterpart, an AI-native managing general agent specialising in management and professional liability insurance, has appointed Kelly North as VP of Revenue, Christina Melia as Director of Lawyers Professional Liability, and Sean Gleason as Director of Financial Services. The company achieved 175% year-over-year premium growth in 2025 and has written over 35,000 policies across five A-rated capacity partners. Recent product launches have exceeded expectations, with Allied Health Professional Liability surpassing budget by nearly 80% and Architects and Engineers tracking at nearly double its target. Counterpart's Agentic Insurance platform serves over 3,000 brokers. The new leadership will help expand into specialty insurance verticals including lawyers professional liability and financial institutions, targeting underserved small businesses.