Startup Super Which Also Operates in Belgrade Raises USD 50 Million in Investments

Super, a tech company from San Francisco, with a seat in Belgrade, has raised a new investment of USD 50 million. Super offers an alternative to the traditional insurance of residential space that protects insurance beneficiaries from malfunctions of home appliances and systems through a monthly subscription. The startup plans to use the financial funds to expand to the new markets, to employ more people and add more services.

Super has created a kind of a new market. The subcontractors that Super cooperates with have a license and essentially use its platform for free, using it to connect with the customers. For users, this service is available as part of the monthly subscriptions from which Super pays a compensation to the subcontractors based on how many times they had to go in the field. Now a part of this new investment will be used for the upgrading of their AI systems, which they use to improve the way those monthly plans function, as well as the service provision itself.

In addition to the algorithms which Super has developed in order to more easily set the prices of its services based on the location, the size of the house and other factors, the app also has functions which subscribers can use to interact with the company, such as the reporting of problems, service request and provision of more details about the problems with the app to the end of a quicker improvement.

Since April 2019, when it raised an investment of USD 20 million, the company has increased its income more than seven times. So far, it has collected USD 80 million, and it has not yet revealed its market valuation, but is currently active in some of the fastest growing markets of residential space in the USA.