See other companies on Welcome to the Jungle
Foresight Risk and Insurance Services
Insurtech company for workers' compensation
- 21-100 employees
- B2B
- Insurance
- SaaS
- Yerba Buena, San Francisco, CA
Jump to section
Company mission
To modernize the commercial insurance model so that it meets the needs of today’s businesses.
94% employee growth in 12 months
Our take
Foresight’s insurance platform for construction and industrial workers makes it easier for brokers to find lower worker compensation premiums. It does this by leveraging data from its sister company Safesite, a safety and risk management platform, to better predict incidents and inform its policies.
Safesite, which is free for all Foresight policy holders, was actually the first company of the pair to emerge as a means of modernizing safety management and reducing on-site dangers. However, the founders spotted an opportunity to use its impact to reduce insurance costs as well, hence the birth of Foresight in 2020.
Workers’ compensation is usually the highest line insurance item for construction companies, and since traditional insurance companies tend to err on the side of caution with their policies, Foresight’s move to incentivize better risk management for lower premiums is a clever one.
The company’s early growth has been very encouraging, and with a fresh fundraise for parent company Foresight Group, the aim is to continue its steady expansion across the US.
Steph
Company Specialist at Welcome to the Jungle
Benefits
- Generous paid time off including paid holidays, personal days and paid sick leave
- Monthly wellness stipend
- Medical, dental, and vision insurance
- Remote work friendly (role-dependent)
- Industry-leading career development opportunities
- Annual Learning and Development stipend
Funding (last 2 of 3 rounds)
Jan 2022
$39m
SERIES B
Dec 2020
$20.5m
SERIES A
Total funding: $74.5m
Leadership
David Fontain
(Co-founder & CEO)Co-founded workplace risk management platform Safesite in 2014, before launching and becoming CEO of sister company Foresight.
Peter Grant
(Co-founder)Former Construction Engineer at Layton Contractors in Australia. Is the co-founder and CEO of Safesite, the risk management platform from which Foresight emerged.
Leigh Appel
(Co-founder)CTO and co-founder of Safesite, Foresight's sister company. Former Senior Software Engineer at Virgin Australia.