RockRose Risk raises $12.5 million for wildfire insurance platform

RockRose Risk, a San Francisco-based insurance brokerage specializing in wildfire-prone areas, has raised $12.5 million in a Series A funding round. The investment was co-led by Crosslink Capital and Congruent Ventures, with participation from Nuveen Real Estate.

The company is transitioning into a vertically integrated risk management platform. This model aims to combine autonomous property analysis, mitigation services, and insurance into a single system. To achieve this, RockRose Risk plans to acquire complementary businesses, such as roofing and tree-trimming companies, to provide property owners with a unified solution for assessing risk, performing mitigation work, and securing insurance.

Serving commercial property owners, homeowner associations, and individual homeowners in California, Colorado, and Nevada, the startup seeks to lower insurance costs by quantifying and implementing wildfire risk reduction steps. The move comes as insured wildfire losses in North America have seen an annual growth rate of approximately 14% since 1970.