Bunker, Startup That Helps Insure Gig Workers, Nabs Cash from Chubb
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comes to understanding and fulfilling insurance requirements, Nitschke says. “There’s all this data moving back and forth. That’s ultimately what makes it a good problem for technology to solve.”
Bunker initially sought to get white-collar contractors, such as software developers and marketing gurus, to begin using the startup’s software, Nitschke says. Bunker then expanded its target market to include blue-collar professionals who work in factories, warehouses, and other industrial settings, he says.
Nitschke lives in the Bay Area, but says 20 of Bunker’s 22 employees are based in Wisconsin. The startup recently moved into new offices near the state capitol in Madison.
Having nearly its entire workforce in the Badger State has allowed Bunker to be more efficient with the revenues and outside funding it’s brought in, Nitschke says.
“The cost of labor is far lower in Madison than it is in San Francisco,” he says. “What I like to tell investors is that Silicon Valley is a great place to raise capital, and Madison is a great place to deploy it.”