Foley Hoag Represents Energetic Insurance in $7M Series A Financing
October 8, 2021
Foley Hoag LLP represented Energetic Insurance, a Managing General Underwriter (MGU), in the completion of a $7 million Series A financing led by Schneider Electric Ventures with participation from MS&AD Ventures, Atlantic Global Risk, and MCJ Collective. Existing investors Congruent Ventures, SCOR P&C Ventures, MUUS Asset Management, Powerhouse Ventures, and Clean Energy Venture Group also participated in the round. The Series A brings Energetic’s total funding to $12 million, and enables it to expand its team and reach new markets, with a focus on technology development, product offering diversification, and geographic expansion.
Headquartered in Boston, Energetic offers a data-driven approach to developing new risk management products to unlock exponential growth in the renewable energy industry. The company provides a credit insurance policy that covers payment default risk on commercial and utility-scale renewable energy projects. To-date Energetic has placed its credit insurance on projects with over $70M of insured value with 160 sites across 13 U.S. states.
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