Center for Innovative Technology (CIT) announced that its early-stage fund, CIT GAP Funds, has invested in Richmond, Virginia-based Buddy, a startup that provides on-demand accident insurance for people with outdoor lifestyles.

The company’s coverage is supplemental to general health insurance plans and was created to offset costs for people who experience injuries while being active outside. The financial terms of the investment were not disclosed but Buddy said it plans to put the funds toward marketing efforts, national expansion and partnerships.

“Outdoor adventures nowadays typically take us down a path of the unknown, where often times unexpected mishaps can occur. We have heard countless stories from our friends and customers who have been injured pursuing their outdoor passions,” said Buddy CEO Charles Merritt in a press release. “Our mission is to help people fearlessly enjoy an active outdoor lifestyle by insuring them against the unexpected costs of an accident.”

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