Insurance provider Transverse joined Blackhorn Ventures to invest $15m in commercial insurer Foresight earlier this year.

US-based commercial insurance provider Foresight secured $15m from investors including insurance provider Transverse Insurance Group in May this year, TechCrunch reported on Friday.

Transverse provided the cash with venture capital firm Blackhorn Ventures, and Foresight’s website states it has now raised a total of $20.5m from a pool of investors that also includes Brick and Mortar Ventures and Builders VC.

Foresight provides workers compensation insurance for businesses in industries such as construction, manufacturing, logistics and agriculture. It has covered $30m in risks since launching the service in August this year, according to TechCrunch.

The company leverages data taken from Safesite, a sister company backed by Blackhorn Ventures and Brick and Mortar Ventures that has built a safety compliance software platform, in order to predict dangerous incidents and identify possible on-site risks.

Robert Lavine

Robert Lavine is special features editor for Global Venturing.