Richmond-based startup company Fenris Digital said it has completed a capital raise of $1.7 million.
The startup company, founded in 2016, provides software and predictive analytics to help insurers streamline applications while preserving underwriting integrity and accuracy.
Investors in the seed capital raise include the international financial technology fund SixThirty, the Center for Innovation in Technology and two angel investor groups in Virginia — Tyson’s Angels Group and the 757 Angels Group.
Also participating in the investment round was Larry Rosenberger, former CEO of Fair Isaac Corp., or FICO, who is a current research fellow there.
Rosenberger, who has been an adviser to the company since it was founded, also has joined Fenris Digital’s board.
Jennifer Linton, founder and chief executive officer of Fenris, said the company will use the capital to increase hiring for top sales talent, strategic business development, customer success, engineering and data analytics. The company also will continue to build its suite of products.
Fenris Digital participated in the 2016 cohort of Lighthouse Labs, a Richmond nonprofit business accelerator that provides equity-free funding and mentorship to startup ventures.