Tugboat, a technology company based in Simi Valley, has secured $3 million in a seed funding round to expand its platform aimed at addressing the widespread issue of underinsurance in property claims. The funding round, which was oversubscribed, was led by Resilience VC and will support the development of API integrations with major property management systems, B2B distribution channels targeting multifamily owners and lenders, and the expansion of Tugboat’s free disaster-response program.

Founded by Cameron Mooney and his spouse—both veteran insurance adjusters with experience handling thousands of claims across various carriers—Tugboat offers a platform designed to empower homeowners and other policyholders by leveraging claims data. The platform assists users in negotiating more favorable settlements with their insurance providers, often leading to significantly higher claim recoveries.

According to the company, Tugboat members have seen substantial financial benefits. In the aftermath of the 2025 Southern California wildfires, members recovered an average of over $54,000 more than their insurers’ initial offers. More broadly, across 30 states, the platform has helped users secure more than $15 million in additional settlements, averaging around $25,000 per claim.

The service generally charges a $99 fee for access to its platform but provides complimentary access for a limited period following natural disasters. This approach aims to support homeowners during times of financial uncertainty when they face the dual challenge of managing significant losses and negotiating complex insurance claims.

Looking ahead, Tugboat plans to expand its offerings to renters by collaborating with large landlords and property management firms. The company envisions its platform as an amenity for renters, targeting the substantial risks faced by these groups through a B2B model. Cameron Mooney emphasized the importance of thorough documentation, including simple video evidence, to support claims related to theft or disaster damage. He noted the current lack of incentives for insurers to address underinsurance, underscoring the need for policyholders to take proactive steps to protect their coverage.

By combining insurance expertise with technology, Tugboat seeks to bridge gaps in consumer advocacy and improve outcomes for policyholders facing the often-complex claims process.