July 7, 2025 – Minneapolis, MN – Vertical Insure, a leading embedded insurance platform powering tailored protection across niche vertical SaaS platforms, has announced the acquisition of SoleSafe, a startup specializing in first-of-its-kind insurance solutions for high-value sneaker collections. The strategic acquisition marks Vertical Insure’s further expansion into the fast-growing collectibles market.
SoleSafe was founded in 2020 by Phil Terrill to fill a critical gap in the insurance market for collectible items, starting with high-value sneakers.
Now, as Phil joins Vertical Insure as Head of Collectibles and Retail Partnerships, his knowledge and credibility in the space will help the company expand its offerings to platforms that serve buyers and sellers of sneakers, trading cards, sports memorabilia, watches, luxury goods, and more. This expansion stays true to Vertical Insure’s embedded-first approach – making coverage more accessible within the platforms people already use.
“This is an exciting next chapter,” said Phil Terrill, Founder of SoleSafe. “Our mission has always been to bring transparency and real protection to the collectibles community. By joining forces with Vertical Insure, we can add coverage into more platforms so collectors everywhere can protect what they love, exactly when they need it most.”
With this acquisition, Vertical Insure is positioning itself as the go-to embedded partner for platforms by helping their users manage, protect, and grow their collections.
“We’re thrilled to welcome SoleSafe to the Vertical Insure family,” said Brock Noland, CEO and Co-Founder of Vertical Insure. “Phil has built a trusted name in the collectible and sneaker space and he deeply understands both the nuances and the needs of the entire industry. His experience and reputation will help us serve platforms and marketplaces with more credibility and focus.”
“Our mission has always been to bring transparency and real protection to the collectibles community. [Now], we can add coverage into more platforms so collectors everywhere can protect what they love, exactly when they need it most.”
About Vertical Insure
Vertical Insure specializes in embedded insurance solutions tailored to the unique needs of vertical SaaS platforms. By integrating coverage options seamlessly into online platforms, Vertical Insure provides businesses and their customers with peace of mind, ensuring that every experience is protected.
Vertical Insure specializes in embedded insurance solutions tailored to the unique needs of vertical SaaS platforms. By integrating coverage options seamlessly into online platforms, Vertical Insure provides businesses and their customers with peace of mind, ensuring that every experience is protected.
About SoleSafe
SoleSafe is a leading insurance and asset management platform for sneakers. Designed for collectors, SoleSafe enables users to protect, authenticate, and manage their collections through a single app-based experience.