SuretyNow

What do they actually do

SuretyNow is an online surety‑bond broker and issuance platform. Businesses apply through a web form, SuretyNow shops multiple carriers for quotes, takes payment, and issues the bond as a PDF; they can also mail physical copies or file with obligees when required (SuretyNow site, YC profile).

Customers are primarily small businesses and contractors needing license, permit, payment, or performance bonds. The site highlights common bond types (e.g., contractor, auto dealer, freight broker) and lists “Trusted by +4,500 companies,” “5,000+ bonds written,” and “$100M total bond amount written” as current traction figures (SuretyNow site).

The workflow is self‑serve: find the bond type, complete the online form, receive quotes as SuretyNow brokers with carriers, pay online, and get the bond issued the same or next day for most bonds. They also publish learning and renewal guides to help customers understand requirements and manage renewals (SuretyNow site, Learn).

Who are their target customer(s)

• Small general contractors needing contractor license/permit bonds: They can’t start projects until a bond is filed; traditional broker processes are slow and opaque, so they need fast online issuance with clear next steps (SuretyNow site).
• Subcontractors and trades needing payment/performance bonds: They face bid/contract deadlines and dislike back‑and‑forth underwriting and carrier shopping; they want quick quotes and reliable issuance to keep jobs moving (SuretyNow site).
• Auto dealers opening or renewing dealerships: Dealer bonds are required for licensing; compliance timing and paperwork are critical, so they want simple purchase and filing options to avoid operational delays (SuretyNow site).
• Freight brokers and small transport companies: They must post freight broker bonds to operate; regulatory deadlines and slow manual processes make it hard to get bonded quickly when launching or scaling routes (SuretyNow site).
• Small business owners needing various license/permit bonds: They often don’t understand bond types, costs, or renewal rules and worry about missed renewals or filing errors that could jeopardize a license (Learn).

How would they acquire their first 10, 50, and 100 customers

• First 10: Founder‑led outreach to local contractors, trades, auto dealers, and freight brokers via permit offices and trade groups; provide white‑glove onboarding, fast bonding, and gather testimonials/referrals.
• First 50: Target urgent search (high‑intent keywords) and list in relevant directories to capture immediate needs; add a simple finder‑fee program for a few independent agents and permit‑service partners to drive introductions.
• First 100: Publish state/bond‑type how‑to and renewal guides for SEO, launch a customer referral incentive, and add a partnerships lead to integrate with permit vendors, trade associations, and broker groups for repeat volume.

What is the rough total addressable market

Top-down context:

U.S. surety premiums total roughly $8–9B annually; this is the economically relevant pool for a broker/platform like SuretyNow, not the much larger face value of bonds (YC profile, AM Best, SFAA).

Bottom-up calculation:

Using ≈$8.6B in U.S. direct premiums and typical distributor commissions of ~10–20%, the commission/fee pool available to intermediaries is roughly $0.86B–$1.7B per year (AM Best, BondExchange, Chubb).

Assumptions:

• Focus on license/permit, commercial, and smaller contract bonds that fit online/self‑serve brokerage flows.
• Commission ranges average ~10–20% across products and distributor types.
• Sufficient carrier appointments and underwriting capacity are available to support growth.

Who are some of their notable competitors

• SuretyBonds.com: Large online surety agency offering free quotes and same‑day bonds for many types; competes on breadth and self‑service checkout (SuretyBonds.com).
• JW Surety Bonds: Established online broker with instant quotes/purchase for common bonds (bid, performance, court, license); strong brand recognition and fast online flow (JW Surety).
• BondExchange: Wholesale/technology platform for insurance agents with tooling, state filing, and production workflows; overlaps on agent distribution and carrier integrations (BondExchange).
• Colonial Surety (I‑Bonds): Carrier offering instant online bonds (I‑Bonds) with quote, apply, purchase flows; competes on instant issuance for straightforward classes (Colonial Surety).
• Surety Bonds Direct / Suretegrity / A1 Surety: Specialist online agencies emphasizing instant quotes, fast issuance, and low‑friction checkout for license/permit and contractor bonds; compete on price and speed (Surety Bonds Direct, Suretegrity).