Snoop Dogg's VC Fund Casa Verde Backs Cannabis Insurance Tech Co.: 'Exciting Opportunity To Disrupt Antiquated Industry'

Frontier Risk, a digital brokerage and insur-tech platform dedicated to servicing the cannabis sector, announced the closing of its Seed fundraising round, led by Snoop Dogg’s venture capital firm Casa Verde. The round also saw participation from Euclid VC, Inter-Atlantic Capital Group and Bruce Macfarlane, a former general partner at Aquiline. The investment aims to finance Frontier Risk's next phase of growth, focusing on specialized insurance solutions to enhance access, pricing and risk capacity for cannabis operators.

James Whitcomb, founder and CEO of Frontier Risk, expressed enthusiasm over the financial backing. "We are thrilled to partner with Casa Verde and this leading consortium of insurance and technology investors to expand our platform across an industry in desperate need of a solution,” he said.

Whitcomb, formerly the CEO of Parallel Inc., and an innovator in the cannabis space, initiated Frontier Risk after recognizing the potential of infusing the cannabis insurance industry with improved data and underwriting techniques. He emphasized the urgency of innovation, saying, “We built many of the original, best-in-class cannabis supply chains by hand, so we know where the risk is. This lets us help reinsurance understand the rich cannabis datasets through the proprietary underwriting engine we’re building.”

Karan Wadhera, managing partner of Casa Verde, will be joining Frontier Risk’s board of directors, along with representatives from Inter-Atlantic Capital Group and James Whitcomb himself. Wadhera commended Frontier Risk’s approach, stating, “Led by a first-class team of cannabis AND insurance experts, Frontier Risk has an exciting opportunity to disrupt an antiquated industry with data-driven, technology-enabled solutions.”

Utilizing cloud-native technology, Frontier Risk aims to set a new standard in the cannabis insurance sector. The platform plans to incorporate embedded partnerships, efficient distribution channels, superior risk selection, and proprietary digital applications as part of its holistic ecosystem for cannabis insurance.