After closing an $11 million Series A over the summer, Pie Insurance has expanded its Denver office and hopes to double its staff in the next three to five months.
The small business workers’ compensation provider has moved into a permanent office space in Denver, at 1860 Blake St. in LoDo. Previously the company had worked out of a co-working space at Industry.
Co-Founder and CEO John Swigart said Pie had to choose between Denver and D.C. for the best location to house its engineering team.
“We decided on Denver, because there is a slightly better market to build up there. It’s not quite as startup friendly for engineering in D.C.,” he said.
Pie currently has 20 employees in Denver and 8 in Washington D.C. Pie will look to double its employee count at its new Denver office space, employing nearly 40 people in Denver in the next three to five months.
Swigart said Pie is actively recruiting for a number of positions as the company continues growing. Pie raised an $11M Series A in August led by New York City VC firm Greycroft and will go out for another round in the first half of next year, Swigart said.
Workers’ compensation is regulated by state, meaning that Pie needs licensing from each state before launching its services.
Currently, Pie offers its workers’ comp services in nine states with more coming online before the close of 2018. Swigart said Pie will look to expand its services nationwide within the next year.
Pie provides workers' compensation to small businesses, like restaurants and landscaping companies, through its online platform that can provide a quote within two minutes.
“We allow business owners to shop in a digital environment for their workers’ compensation. Today almost all of them have to buy them through an agent,” Swigart said. “It’s about trying to bring digital solutions to the entire experience for small business owners. We want to bring this industry into the 21st century.”
