Slingshot: Funding Rounds, Investors & CEO

About Slingshot

Slingshot is an insurance company that supplies technology and capacity for embedded insurance, meaning small policies sold inside another company's checkout. Its customers are vertical software platforms, managing general agents (MGAs), insurance distributors and capital providers. One system uses AI to automate data-heavy workflows. APIs connect the MGAs, platforms and capital providers to it.

The company is based in Minneapolis. It came out of stealth on October 22, 2026, with a $27 million seed round co-led by Rally Ventures and Skyward Group. Ethan Genteman, a former chief actuarial officer at Palomar Holdings, is co-founder and chief executive officer. Nick Malz is chief financial officer. Vertical Insure, an MGA with more than 750,000 customers, is an early customer and design partner.

Funding Rounds (SEC Form D)

First sale	Filed with SEC	Amount sold	Investors	Avg. check	Terms	Filing
Aug 21, 2026	Oct 23, 2026	$26,999,969fully sold	13	$2.0M	EquityRule 506(b)	Form D ↗

First sale is the date the first investor in the offering committed to invest. Companies must file Form D within 15 days of that date, so filing dates run later.

What the SEC Filings Show

Seed began taking money on August 21, 2026, about 2 months before the announcement. The Form D filed on October 23, 2026 shows $27.0 million sold, the full offering, from 13 investors, or about $2.1 million each. [5]
Justin Kaufenberg of Rally Ventures, which co-led the seed round, first appears as a director on the Form D that Slingshot filed on October 23, 2026. [5][7][3][4]
Form D filings that name Justin Kaufenberg (14):
- Total Expert, director: Apr 26, 2016
- Order.co, director: Jan 2, 2020 · Aug 12, 2021 · Mar 16, 2026
- Yardstik, chairman of the Board: Apr 24, 2020 · Sep 15, 2026
- JustiFi Technologies, executive officer and director: Jul 23, 2021
- Vertical Insure, director and promoter: Jan 18, 2023 · Jun 12, 2025
- Bond Sports, director: May 9, 2023 · Sep 6, 2024
- BlankMetal.ai, director: Oct 2, 2025
- Ankored, director: Mar 12, 2026
- Slingshot, co-founder, Board Member: Oct 23, 2026
Jeffrey Hinck of Rally Ventures, which co-led the seed round, first appears as a director on the Form D that Slingshot filed on October 23, 2026. [5][8][3][4]
Form D filings that name Jeffrey Hinck (44):
- Attensity Group, director: Apr 26, 2010 · May 14, 2010 · Mar 15, 2011
- TST Media, director: Aug 19, 2011 · Nov 30, 2012 · Mar 6, 2014 · Jul 15, 2014 (amended)
- Cloud Elements, director: Jun 19, 2014 · Aug 11, 2015 · Dec 4, 2015 (amended) · Sep 8, 2016 · Jan 12, 2017 · Nov 15, 2018 · Jan 22, 2019 (amended) · Mar 1, 2019 · Jul 26, 2019 (amended) · Dec 26, 2019
- Brainyak, director: Oct 29, 2015 · Feb 13, 2020 · Jun 8, 2022
- CrowdStreet, director: Mar 21, 2016 · Aug 2, 2018 · Nov 12, 2019 · Jul 6, 2022 · Sep 23, 2022 (amended)
- Total Expert, director: Apr 26, 2016
- Atavium, director: Jun 6, 2018 (amended)
- Krista Software, director: Dec 6, 2019 · Dec 9, 2019 (amended) · Feb 23, 2022 · Dec 12, 2023 · Oct 17, 2024 · Oct 15, 2025
- Yardstik, director: Apr 24, 2020 · Sep 15, 2026
- JustiFi Technologies, director: Jul 23, 2021
- Vertical Insure, director: Jan 18, 2023 · Jun 12, 2025 · Aug 17, 2026
- Agent Sport, executive officer and director: Jul 28, 2025 · Aug 4, 2025
- BlankMetal.ai, director: Oct 2, 2025
- Lucem Health, director: Mar 30, 2026
- Slingshot, co-founder, Board Member: Oct 23, 2026

Who Invested in Slingshot

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Announced	Round	Amount	Lead	Other investors	On the Form D	Source
Oct 22, 2026	Seed	$27 million	Rally Ventures; Skyward Group	Several P&C industry veterans joined the oversubscribed round, including Jim Hays, who will join the company's Board of Directors.	First sale Aug 21, 2026; $26,999,969 of $26,999,969 from 13 investors. [5]	[3][4]

Announced amounts can differ from Form D figures: an announcement can combine several closings, and some money is raised without a Form D.

Why Investors Backed Slingshot

Rally Ventures argues that a $25 policy sold during sports registration cannot fit carriers that need multimillion-dollar programs to break even. It sees MGAs choosing between legacy carriers with capital but limited product support, or software platforms without funds to back policies. Rally backed Slingshot's combination of carrier backing and software designed for small, frequent risks. [4]

“I started Slingshot to serve the customers stuck on the losing end of that inefficiency and to build the technology that actually fixes it.”

Ethan Genteman · co-founder and chief executive officer, Slingshot · Founder Q&A from Rally Ventures, a co-lead of the seed round. [4]

Origin and Team

Rally Ventures co-founded Slingshot with Ethan Genteman, betting early on embedded insurance. Rally managing director Justin Kaufenberg and Vertical Insure chief executive Brock Noland are also co-founders and board members. [3][2]

Before Slingshot, Genteman spent years as a chief actuary and data officer at established carriers, including Palomar Holdings. He said those jobs focused mainly on risk management and capital. [4][3]

Product and Technology

Slingshot's AI-based system gives MGAs technology and capacity to launch and grow embedded products. It also serves vertical software platforms, insurance distributors and capital providers. One system provides capital access and reinsurance. It handles actuarial pricing and risk selection, then tracks each program as policies run. Customers can query policy or premium figures through APIs. [1][3]

Slingshot accepts programs of any size without minimum fees. Each figure retains its source and full change history. New versions name an approver, while earlier versions remain available. [1]

Skyward Group gives Slingshot access to an A-rated carrier's licenses and balance sheet from day one. Skyward can cover gaps across all 50 states and Canada. [4]

The platform supports embedded coverage in amateur sports, travel and gig or independent work. [3]

Use of Funds

The seed financing will build AI-based infrastructure for embedded insurance. [3]

Milestones

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Date	What happened	Source	Coverage
2027	Genteman expects Slingshot's own carrier to cover 48 states in early Q1. Rally Ventures described its launch as coming within months.	[4]	—
Oct 22, 2026	Slingshot disclosed Vertical Insure as an early customer and design partner. The embedded-insurance MGA serves more than 750,000 customers at a $25 average premium.	[3]	—
Oct 22, 2026	Slingshot emerged from stealth in Minneapolis.	[3]	Runtime Wire ↗

Market

Slingshot's announcement cites forecasts that embedded insurance could rise from roughly 3% of global property-and-casualty premiums to nearly 20% over the next decade. [3]

Slingshot estimates embedded insurance could grow 30% annually over the next decade. It expects non-auto opportunities to grow 50% to 100% or more. [1]

Genteman forecasts a $2.5 trillion property-and-casualty market expanding to $3.7 trillion within ten years. He expects embedded insurance to rise from $70 billion to $750 billion. [4]

Genteman views the rise of industry-specific software as creating new channels for policies sold inside digital purchases. He says only a small share of eligible products currently carries insurance. [4]

Genteman argues that embedded products often carry smaller premiums, while incumbent systems have fixed costs built for a different market. [3]

Rally managing director Justin Kaufenberg sees the main insurance growth opportunity in small, everyday policies sold at checkout. [3]

We wrote this summary from public statements by Slingshot and its investors. It is not investment advice.