PALO ALTO (March 31, 2022)—Perkins Coie is pleased to have advised NFX-backed insurtech platform Captain in its $104 million fundraising to bridge the gap between policyholders, contractors, and insurance companies to repair homes affected by natural disasters more quickly by paying general contractors upfront. For more information, please see Captain’s press release here.

Captain secured over $104 million in total financing through the combination of a $100 million debt facility with CoVenture and a $4 million seed round led by NFX, GGV Capital, and Red Swan. Captain helps homeowners complete repairs up to six times faster than the average primary recovery period of 14 months after natural disasters by advancing money to their contractors to pay for materials, labor, and fees associated with repairs.

San Francisco-based Captain was founded by meteorology entrepreneur Demetrius Gray and since launching, has approved $5 million in under 30 days for the nation’s most storm-damaged areas and partnered with 50 contractors throughout the U.S.

The Perkins Coie advisory team included Emerging Companies & Venture Capital (ECVC) practice partner Troy Foster, corporate law partner David Dedyo, and ECVC associates Paul Ford and Upjeet Cheema.

Perkins Coie’s ECVC practice advises emerging companies on startup company formations, independent contractor issues, early to late-stage financings, venture debt, intellectual property protection, dispute counseling, technology licensing and acquisitions, mergers and acquisitions, initial public offerings, and dispute counseling, among other areas.

Perkins Coie is a leading global law firm, dedicated to helping the world’s most innovative companies solve the legal and business challenges of tomorrow. Learn about our work and values here.

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