SquareDash pays contractors 30-90 days faster by providing instant funding on approved property insurance claims. It uses proprietary technology to digitize legacy documents with a simple PDF or image upload, validating the claim and reducing underwriting risk. It is the first solution of its kind in the $70B US property loss market.
Working insurance claims is hard: It’s complex and requires workflows not found in retail jobs, it’s high volume after storms create large amounts of work in an instant, and it’s expensive to operate through long sales cycles and slow claim settlements. Collecting payment often involves physically driving to customers' homes to pick up paper insurance checks after waiting months for them to arrive in the mail.
1025% growth since public launch in March
Reached $250K run rate in first 6 months of business
5.5 LTV/CAC
$3,019/average monthly revenue per customer
$200M+ in pipeline
Multiple term sheets for $20M+ debt facilities
Successfully closed an oversubscribed seed round, led by Hivers and Strivers, with a co-investment by The PenFed Foundation. Angel investors include Elizabeth Yin (The Hustle Fund), Amber Illig (The Council), Darwinian Ventures, Allison Barr-Allen (Uber payments alum), Reed McBride (VP @ Carta), Jarrod Yound, and Spencer Bryson
Launched our accounting and receivables factoring product to Luck Roofing.
Luck produces ~$300K in monthly revenue, and we charge a 5% fee to facilitate all customer payments and factor Luck’s receivables.
Stripe raised our weekly ACH processing limit from $10k/week to $500k/week.
We secured a lending partner with a $75M debt facility.
The company has received multiple term sheets on $10M-$20M debt facilities and is in the process of raising an equity round to satisfy the capitalization requirements of the debt. This new facility will unlock $100M- $200M of pipeline, immediately.
