Mike Cheng
Managing Broker at Somerset Insurance Solutions
San Francisco Bay Area
Overview
Work Experience
Managing Broker
2019 - Current
Comprehensive insurance protection for homeowners and business owners.
Partner Broker
2019 - 2020
From fresh startups to expansive real estate portfolios, Newfront Insurance simplifies the purchase, renewal and risk management process with technology for modern companies. Y Combinator/Winter 2018
Newfront is an insurance company that provides risk control, risk analytics, and benchmarking claims advocacy.
Raised $310,000,000.00 from Y Combinator, Bloomberg Beta, Altai Ventures, Susa Ventures, B Capital, Vetamer, Founders Fund, Tony Xu, PruVen Capital and Stack Capital.
Head Of Sales
2017 - 2019
$9.5M Series A led by Canvas Ventures, with participation from Correlation Ventures, Northwestern Mutual Future Ventures, Securian Ventures, and initial seed investors. Acquired by Experian for $320MM in November 2021.
Gabi monitors insurance rates from all carriers and provides unbiased advice on the optimal coverage.
Raised $39,100,000.00 from Mubadala Capital Ventures, Canvas Ventures, Securian Ventures, TruStage Ventures, Northwestern Mutual Future Ventures, Burst Capital, Project A Ventures, Correlation Ventures and A.Capital Ventures.
Sales Operations
2015 - 2017
Member of founding broker team that collaborated with engineers, product managers and PMMs to scale Gusto's insurance platform from $0 to $10MM ARR. Y Combinator/Winter 2012
Gusto is an HR and payroll platform that simplifies complex tasks, empowering businesses to focus on what matters most.
Raised $746,100,000.00 from Partner Ventures.
Managing Broker
2011 - 2015
Agent
2004 - 2011