Home insurtech Openly raised $100 mn in Series D funding

Home insurtech Openly has raised $100 mn in Series D funding led by Eden Global Partners, a financial institution specializing in providing long term capital solutions and strategic financial guidance, with additional participation from a mix of current and new investors including Gradient Ventures, Clocktower Technology Ventures, Trinity Capital, and others.

As part of the transaction, David Dwek, Eden Global Partner’s Chief Executive Officer, has joined Openly’s Board of Directors.

Openly, used exclusively by independent insurance agents, aims to transform the homeowners insurance journey by offering comprehensive coverage and customer service, all through its proprietary technology platform.

Co-Founders Ty Harris and Matt Wielbut identified an opportunity to revolutionize homeowners insurance by supporting the effective independent agent channel with a platform that streamlines agency processes, expands coverage, improves risk underwriting, and enhances the claims experience.

Ty Harris, Co-Founder and CEO of Openly

Openly’s growth continues to be fueled by the support of investors, employees, and independent agents who all value the game-changing approach we bring to the insurance space

Ty Harris, Co-Founder and CEO of Openly

Openly continuously demonstrates its value to not only independent agents, but also to the broader insurance industry. Insurtech now serves 30,000 independent agents across 21 states in the U.S. with no signs of slowing down. The company’s high-quality products and services are best demonstrated by its 90% plus customer retention rate.

Openly continues to advance its mission to revolutionize the homeowners insurance industry.

David Dwek, Chief Executive Officer of Eden Global Partners

Openly’s technology expertise, experienced team, and commitment to providing an customer experience are truly redefining the insurance industry’s future.

David Dwek, Chief Executive Officer of Eden Global Partners

“Openly’s modern and transparent homeowners insurance experience is winning over agents and homeowners en masse,” said Zach Bratun-Glennon, Founder and General Partner of Gradient Ventures. “Our belief that insurance built from the ground-up on a technology would truly differentiate product and performance, is proving true.”

Openly is a remote-first homeowners insurance company. Its centralized platform offers comprehensive coverage, market-leading technology, and service.

Founded by industry veterans in 2017, Openly is dedicated to delivering modern and transparent homeowners insurance and empowering independent agents across America.

Peter Sonner   by Peter Sonner