Former Bumble CBO Raises $10 Million For Disability Insurance Startup
Alex Williamson, Bumble’s former Chief Brand Officer, has raised over $10 million in an initial seed round for her new venture.
Asteya is a Miami-based disability insurance startup that is specifically geared toward small business owners and gig workers.
Funding includes a contribution from Whitney Wolfe Herd as an angel investor. Other investors are I2BF Ventures, Capital Factory, Cap Meridian Ventures, Northstar.vc and Atrum.
While she was at Bumble, Williamson was able take medical leave. She told TechCrunch that without it, she would’ve needed to take out disability insurance.
51% of U.S. employers offer disability insurance to their employees, but the other 49% are left unprotected should something happen to them.
Many of those who are uncovered are small business owners, gig workers or freelancers. Asteya is targeting these individuals with its first product, offering up to $500,000 in protection for a monthly fee that starts at $6 per month.
The company says that signing up and getting approved takes only a matter of minutes.
There is also a special benefit for women, who are often charged a higher premium for disability insurance. Williamson is drawing on her Bumble roots by offering gender-neutral fees.
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