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Case study

Case Study: Helping Hofy Build The Worldwide Remote Workforce

It’s possibly one of the only positives to emerge from the global pandemic: remote working is here to stay. And helping define this new way of working is Hofy – the fastest way to equip your remote employees with the tools to succeed. They enable organisations to rent everything that a remote worker’s home office might need, such as laptops, keyboards, chairs and desks.

Photo by Kevin Bhagat

Ahead of the times, Hofy set out on their mission to support remote workforces in early 2020. Little did they know just how much of a lifeline they would become for businesses worldwide. They’ve attracted a lot of attention since – recently going through Series B funding and raising $15.2 million from the likes of Stride.VC, Kindred Capital, Activum SG Ventures, TrueSight Ventures, 20 VC, and Day One Ventures.

What was a dull era of lockdowns for most became an exciting period of growth for Hofy. They appointed a new VP of Finance, Peter Simmons, and they needed to protect their decision makers with a robust Directors’ and Officers’ (D&O) policy. Enter Capsule – we were already in touch with Hofy’s CFO, and as big believers in evolving your insurance in tandem with your growth, we were perfectly positioned to tackle their goals.

Photo by Sigmund

From our initial conversations with the Hofy team, it became clear that what they needed first and foremost was a solid structure for their insurance. Along with securing their D&O liability, we began by revaluating all Hofy’s insurance requirements – implementing any necessary refreshes to realign their existing policies with their operations and growth.

Since we specialise in insuring fast-growth companies, Capsule has a unique knowledge of the typical funding journey and we’re up to speed with complex supply chains. We were able to obtain robust policies that met Hofy’s needs, including overseas subsistence, shipping and storing stock worldwide, and remote-first workforces as well as investor requirements. The whole process was done and dusted within a couple of weeks.

“Hofy operates on the principle that ‘the future of work is now’ – and while we usher in the new remote generation, Capsule will be protecting our future. We’ve already bolstered our cyber processes and procedures with the help of their experienced team, and they’ll be conducting regular reviews of our insurance as a whole as we continue to reach new heights.”

Peter Simmons, VP Finance at Hofy

Want to ensure you have the right cover in place to protect your own growth? Get in touch to see what an insurance programme that supports your ambitions could look like for you.

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Capsule Insurance Services Limited Festival House, Jessop Ave, Cheltenham GL50 3SH

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Capsule Insurance Services Limited t/a Capsule are an Appointed Representative of James Hallam Limited who are authorised and regulated by the Financial Conduct Authority (FCA), under Firm Reference Number (FRN) 134435. Capsule's FRN is 948838. Registered in England and Wales company number: 13340821. Registered office is 48 Belle Vue Terrace, Malvern, England WR14 4QG.

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