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Erie-based Erie Strategic Ventures, the venture capital arm of Erie Insurance, recently announced investments in Atomic and Feathery, two new portfolio companies that operate at the intersection of technology and financial services.
Atomic is a full-stack brokerage and wealth management solution purpose-built for financial institutions. It allows credit unions, insurance carriers and other financial institutions to offer their clients embedded financial solutions.
Feathery provides financial institutions with a flexible, artificial intelligence-powered data intake platform whose workflows allow intaking data and documents across multiple sources to be validated, formatted and connected to end systems.
“We are excited to partner with Atomic and Feathery,” Keith Kennedy, Erie Insurance senior vice president for Next Level Innovation, said. “Erie Insurance is a relationship company, and we believe that these two relationships create numerous opportunities for mutual benefit.”
Founded in 2022, the Erie Strategic Ventures fund invests in the personal and commercial insurance value chain, and adjacencies that offer potential to deliver value to ERIE, its agents and policyholders.
ERIE and Cerity Partners Ventures, a corporate venture capital management firm, collaborate to help oversee and operate Erie Strategic Ventures.
Erie Insurance is the 11th largest homeowners insurer, 12th largest automobile insurer and 10th largest commercial lines insurer in the United States based on direct premiums written, according to AM Best Company.