Property insurance MGA Delos Insurance Solutions, which uses wildfire science and satellite imagery to assist homeowners with wildfire insurance availability, has raised $9 million through a Series A funding round. The round was led by HSBC Asset Management and included IA Capital Group, Blue Bear Capital and Generation Space along with several angel investors.

Delos provides insurance solutions to homeowners in wildfire-stressed areas and currently writes $40 billion in total insurance value. The company said in a press release that it is committed to applying its technology and expertise to broaden access to insurance in a way that people can afford, and the funding will help support this aim.

“We are enjoying working with a great, supportive group of investment partners, as we embark on the next phase of the Delos journey,” said Delos CEO Kevin Stein in the release. “We are looking to provide insurance outside California and develop new products to help people obtain the affordable insurance they deserve. We scaled back our funding requirements for this round, despite being oversubscribed. This is due to our better-than-planned growth, market leading loss ratios, and the positive response from California homeowners.”

The investment partners focus on financial sector solutions, insurance, climate change, and space.

Source: Delos Insurance Solutions