Slingshot Insurance, an AI-native embedded insurance startup, is emerging from stealth with $27 million in seed funding.

Rally Ventures and Skyward Group co-led the round, with participation from insurance industry veterans including Jim Hays, who will join Slingshot's board. Rally is also a co-founder of the Minneapolis-based startup, as part of the firm's broader approach. So far, it has co-founded roughly eight portfolio companies that have either launched or remain in stealth.