Adaptive Insurance Raises $5M in Funding Round

The company will use the funding to expand its specialty insurance products, grow its network of agents and partners, and continue developing its proprietary climate intelligence platform.

Adaptive launched GridProtect in 2025, introducing what it says is the first parametric insurance product for short-duration power outages. The policy provides automatic payouts when verified power outages occur, using real-time third-party data. The company has also expanded its offerings with wind and hail deductible buy-back coverage and a flood insurance product that offers more flexibility than the National Flood Insurance Program (NFIP).

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In addition, Adaptive provides equipment breakdown insurance for commercial customers and powers Tokio Marine HCC's Restaurant Recovery program through its proprietary technology platform.

The company plans to continue developing technology-driven specialty insurance products that address coverage gaps and help individuals and businesses better manage growing climate-related risks.

The funding comes as climate related losses continue to rise. In 2024, the global insurance protection gap from climate and weather disasters reached $181 billion. In 2025, catastrophic climate events caused an estimated $115 billion in direct losses. Last year, FEMA also canceled $600 million in Flood Mitigation Assistance grants across 36 U.S. states, increasing the need for new climate resilience and insurance solutions.

“Businesses and homeowners today face risks from multiple directions at once,” said Mike Gulla, CEO and Co-Founder of Adaptive Insurance. “We’re seeing coverage gaps where standard policies fall short. Product gaps where entirely new risks have outpaced what traditional insurance was built to address—and infrastructure gaps created by climate volatility, shifting populations, and shrinking public resources. Specialty insurance products have a critical role to play because they allow customers to build resilience, recover faster, and maintain continuity against increasingly unpredictable disruptions.

"What has impressed us most is Adaptive's ability to move from identifying a market need to launching products that deliver tangible value for customers,” said Kevin Kopczynski, Congruent Ventures. “The team has demonstrated strong execution, deep insurance expertise and a clear understanding of how climate and infrastructure risks are reshaping protection needs. We are excited to deepen our support as Adaptive enters its next phase of growth."

About Adaptive Insurance

Founded in 2024 by Mike Gulla and Arik Yelovitch, Adaptive Insurance is a specialty managing general agent (MGA) and insurtech company focused on climate resilience. The company uses data, AI, and specialty insurance products to help businesses and homeowners better prepare for and recover from climate and weather-related risks.

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