Editors's note: Story has been updated with comment from Liberty Mutual.
We may have just stumbled upon a new tech startup being incubated by insurance giant Liberty Mutual.
A Boston startup called All Set Works disclosed through a regulatory filing on Friday that it has raised $14.4 million from investors, and it lists several Liberty Mutual officers as executive officers or directors. The filing also lists its primary place of business as Liberty Mutual's Boston headquarters.
Liberty Mutual spokeswoman Adrianne Kauffman told BostInno the insurance company is an early-stage investor in All Set, and that it will be independent operated. She declined to say who is on the startup's team, but the startup's AngelList page lists Ben Friedman, who works in product innovation at Liberty Mutual, as its vice president.
In the past few months, Liberty Mutual hasn't been shy about its intentions to get into the tech startup and venture capital world. Two months ago, the insurance company announced a new venture capital arm called Liberty Mutual Strategic Ventures that raised a $150 million fund to invest in early-stage, tech service hybrid companies.
"We’ll have three core focus areas,” Russ MacTough, the venture arm's managing director, told Term Sheet’s Dan Primack at the time. "The connected home, next-generation vehicles and the on-demand economy."
Liberty Mutual has a startup incubator called Solaria Labs that launched out of WeWork South Station in January, and it also has other resources allotted for innovative partnerships, though none of them including the new venture arm are exclusively dedicated to ventures working in insurance. Liberty Mutual Strategic Ventures has already invested in August, a San Francisco-based smart lock company, and Notion, a smart home sensor company in Colorado.
According to its website, All Set is working out of 745 Atlantic Ave., where WeWork South Station is located, and it has already launched Android and iOS apps for finding lawn care, house cleaning and other home service professionals — which makes it sound kind of like Angie's List, HomeAdvisor or Woburn-based HomeYou. The startup is taking an Uber-like approach, letting customers interact with professionals, schedule appointments and handle billing through the app.
A trademark filing for "All Set" was registered by Liberty Mutual in June.
In the funding filing for All Set, it lists the following Liberty Mutual executives: Mark Touhey, corporate secretary and chief of staff to the CEO; Tim Sweeney, president, U.S. personal lines; Julie Haase, senior vice president and CFO, global consumer markets; Matthew Nickerson, president of Safeco Insurance, a Liberty Mutual company; John Reardon, vice president and senior director of information technology; Ann Stanberry, vice president of strategy and analytics, global consumer markets; and Anthony Storm, executive vice president and CMO, personal insurance.
The filing also lists Mike Shanahan, a senior partner and managing director at Boston Consulting Group who leads the firm's North American insurance practice. Shanahan conducted a video interview with Liberty Mutual CEO David Long that was posted to a Boston Consulting Group website last September.
The filing indicates that the first date of sale for the funding round was July 11, and that two investors are attached to the deal. It also indicates All Set Works is planning to raise an additional $1 million for a total round of $15.4 million.
