Financial Strength

WeatherBill coverage is underwritten by Nephila Capital Ltd., one of the world’s largest and most respected weather risk and catastrophe reinsurance fund managers. Nephila is registered with the US Securities and Exchange Commission and currently manages over $2.3 billion in assets. Nephila invests solely in catastrophe and weather risk (rather than traditional financial markets) on behalf of large institutional investors, and their funds have zero correlation with other financial markets. In June 2008, Nephila sold a minority stake to Man Investments (EMG.L), a publicly-traded firm with roughly $80bn in associated assets.
 
To guarantee payment of all contracts, Nephila fully collateralizes the portfolio of WeatherBill contracts with cash held in trust at the Bank of New York Mellon. The trust agreement requires the Bank of New York Mellon to hold funds solely for paying out potential customer payout obligations. This structure allows WeatherBill to guarantee full and complete payment, under any conditions, to all of our customers.
 
 

Investors

New Enterprise Associates is a leading venture capital firm. Practicing classic venture capital for 28 years, NEA focuses on investments at all stages of a company's development, from seed-stage through IPO. With approximately $8.5 billion in committed capital, NEA's experienced management team has invested in over 500 companies. 

 

Index Ventures is a leading European venture capital firm active in technology venture investing since 1996. The firm is dedicated to helping top entrepreneurial teams both in the Life Science and Information Technology sectors build their companies into market defining global leaders.

 

Atomico was started by Niklas Zennstrom and Janus Friis, co-founders of Skype, Joost, and Kazaa. The firm is a risk capital group comprised of entrepreneurs with a global perspective who invest their own capital in passionate entrepreneurs with powerful ideas.

 

First Round Capital is an early stage venture capital firm managed by Joshua Kopelman, Chris Fralic, Rob Hayes and Howard Morgan. The firm looks to partner with entrepreneurs to build innovative technology companies.

 

Allen & Company is a boutique investment bank based in New York. The firm has become a premier investment house in the media, entertainment, and technology industries.

 

Sean Park is a partner at Nauiokas Park LLP and the author of The Park Paradigm (www.parkparadigm.com), a widely read blog on the future of financial services and markets. He has over 16 years of investment banking experience as a trader, syndicate manager and senior capital markets executive during which time he was directly involved in developing a number of new markets and tools, most often building on the possibilities opened up by exponential improvements in information and communications technology. Prior to founding Nauiokas Park he was a Managing Director and a member of the Capital Markets Management Committee at Dresdner Kleinwort. He is a non-executive Director of ODL Group Limited, a former non-executive Director of Markit Group and former Chairman of the International Index Company (iBoxx).


Salman Ullah co-founded Merus Capital in November 2007. Previously he was Vice President of Corporate Development at Google, where he spent three years managing a worldwide team responsible for all of Google’s acquisitions and investments. Prior to Google, he spent over seven years at Microsoft in several roles including General Manager of Corporate Strategy and Managing Director of Corporate Development. Earlier in his career, he was an Engagement Manager at McKinsey in Chicago where he spent four years working in the technology and consumer goods sectors. He was also a Post-Doctoral Research Fellow in physics at the University of Virginia and the University of Chicago. He holds an undergraduate degree in physics from the University of Oxford, and a Ph.D. in theoretical physics from Stanford University.

 

Joshua Schachter is the creator of Delicious, creator of geoURL and co-creator of Memepool. He has a B.S. in Electrical and Computer Engineering from Carnegie Mellon University in Pittsburgh. Schachter released the first version of Delicious (then called del.icio.us) in September 2003. The service coined the term social bookmarking and featured tagging, a system he'd invented for organizing links suggested to Memepool and publishing some of them on his personal linkblog, Muxway. Yahoo! acquired Delicious in 2005. Prior to working full-time on Delicious, Schachter was an analyst in Morgan Stanley's Equity Trading Lab.

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