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Liberty Mutual Invests In Internet Of Things Startup

By adding insurer Liberty Mutual as one of its newest investors, home-monitoring startup Notion also hinted at a new type of customer. “We’ve received a lot of interest from insurance companies,” said Brett Jurgens, CEO and co-founder of the Denver internet-of-things company. “A big part is the insurance companies are interested in decreasing water leaks and (increasing) home security adoption. The benefit passes on to customers.” Jurgens wasn’t ready to name names, but Thursday the company will file its regulatory papers for its latest seed round of $3.2 million. Investors include Liberty’s newish venture-capital fund Liberty Mutual Strategic Ventures and XL Innovate, which is part of the global insurer XL Caitlin. To date, Notion has raised $5.7 million from investors.

Read the whole story at DenverPost »

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