LawCloud and Assurely Enter Partnership To Provide Discounted Insurance For The Capital Raising Industry
The partnership brings greater levels of trust, confidence, and safety to investment crowdfunding in a more cost-effective and efficient manner
NEW YORK - April 29, 2019 - LawCloud, a legal technology company, has partnered with Assurely, an insurtech company, to provide discounted insurance for the crowdfunding and online capital raising industries.
As part of the partnership, issuers and portals using LawCloud’s iDisclose service will receive a credit (defined as a discount to the base price) on the insurance policy, known as CrowdProtector™, provided by Assurely. CrowdProtector™ will also be integrated directly into the iDisclose platform, eliminating any additional implementation effort for issuers and portals to include the insurance policy in crowdfunding campaigns. iDisclose by LawCloud is a software-based drafting tool that streamlines the filing process of complicated disclosure and regulatory filings, including the Securities and Exchange Commission (SEC) Form C, a requirement for any company looking to raise money under Regulation Crowdfunding.
CrowdProtector™ is a tailor-made insurance product, specifically designed to protect new online capital formation strategies, such as equity crowdfunding and security token offerings (STOs). CrowdProtector™ provides issuers protection against investor complaints and lawsuits as well as provides protection to investors should the issuer misuse the funds, purposefully misrepresent information in their offering documents, or steal the money.
“Preparing a securities offering can be a lot of work and sometimes costly,” said David Carpentier, CEO at Assurely. “The LawCloud/ Assurely partnership makes a difficult process easier, cheaper, and safer for everyone involved. The LawCloud platform was created by seasoned securities attorneys and represents a powerful and effective partner for every capital raising stakeholder interested in reducing risk, including us. Integrating our platforms enables companies raising money to provide investor confidence and properly protect themselves at less cost, erasing the painful process of buying insurance.”
“Assurely’s products help protect and add trust to the crowdfunding market,” said Michael Knox, LawCloud CEO. “CrowdProtector will help unlock an untapped investor base while simultaneously giving issuers the customized protection they need to run their businesses confidently. Assurely’s proficiencies in understanding the risks involved in both equity crowdfunding and STOs make them an ideal fit for this rapidly growing industry. LawCloud is very excited to assist Assurely by providing important data and its industry leading Form C disclose document.”
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