Casa Verde Capital, a Los Angeles-based investment firm founded by entertainer Snoop Dogg, led a $3 million funding round for marijuana industry insurance provider Frontier Risk Group.
The deal also brings a traditional insurance company into the cannabis industry through a partnership between Frontier Risk and Illinois Casualty Co., according to a news release.
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Connecticut-based Frontier Risk Group has is building a “tech-enabled insurance ecosystem” to serve the cannabis industry.
So far, the company has raised $6 million, the release noted.
Frontier Risk said it has “built a proprietary underwriting engine” with cannabis datasets to help reinsurers understand the risks associated with marijuana.
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Frontier Risk founder and CEO James Whitcomb said his company’s first
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