Parametric property insurtech Sola raises $8 million Series A funding

Sola Secures $8 Million in Series A Funding

Sola, a company focused on parametric property insurance solutions, has successfully closed an $8 million Series A funding round. This announcement was made on Tuesday, and it increases the company’s total funding to $11.7 million.

What is Parametric Insurance?

Parametric insurance offers a different approach compared to traditional insurance. Instead of reimbursing based on the assessment of losses, parametric policies pay out a pre-determined amount when specific conditions or events occur. This provides quicker payouts, which can be crucial in disaster recovery scenarios.

Key Players and Funding Details

The Series A round was backed by a group of investors, though specific names have not been disclosed in the announcement. Sola’s mission is to reshape how property insurance operates, especially in areas prone to natural disasters. The fresh capital will likely be used to expand their offerings and enhance their technology platform, allowing for more efficient operations and a broader reach.

Potential Impact on the Market

This funding comes at a time when the insurance industry is looking for innovative solutions to address the increasing impacts of climate change. By leveraging technology, Sola aims not just to simplify insurance processes, but also to provide faster financial relief for policyholders facing unforeseen events.

Looking Ahead

As Sola progresses with its plans, it will be interesting to see how they utilize this new funding in a competitive insurtech landscape. Their focus on parametric insurance positions them uniquely, and the success of this round may further validate the demand for such solutions in the market.

Original Source: https://www.theinsurer.com/parametric-insurer/news/parametric-property-insurtech-sola-raises-8-million-series-a-funding-2025-08-26/