Ruthvik
Sep 22,23
2 mins read
Openly Raises $100M in Series D Funding to Transform the Homeowners Insurance Landscape
Openly, a leading premium homeowners insurance provider based in Boston, Massachusetts, has secured a remarkable $100 million in Series D funding, marking a significant milestone in its mission to redefine the homeowners insurance market.
The funding round was spearheaded by Eden Global Partners, a prominent investment firm, and witnessed enthusiastic participation from a blend of both existing and new investors. Notable contributors include Gradient Ventures, Clocktower Technology Ventures, and Trinity Capital, among others.
An integral part of this strategic alliance, David Dwek, CEO of Eden Global Partners, has assumed a key role on Openly‘s Board of Directors, offering valuable insights and expertise to drive the company’s growth.
Openly has ambitious plans for the capital infusion, primarily focusing on expanding its operations and extending its footprint in the homeowners insurance sector. The company is poised to leverage this funding to continue its pioneering work in enhancing the insurance landscape for homeowners.
Co-founded by Ty Harris and Matt Wielbut, it has disrupted the insurance industry by empowering independent insurance agents with a cutting-edge technology platform. This platform not only simplifies the process of offering comprehensive coverage but also streamlines agency operations, optimizes risk underwriting, and elevates the claims experience for homeowners.
With its innovative approach, it has rapidly grown its presence and now serves an impressive network of 30,000 independent agents across 21 states in the United States. This nationwide expansion has solidified it’s position as a key player in the evolving landscape of homeowners insurance.
As Openly embarks on this new phase of growth with substantial funding support, the company is poised to continue its journey of innovation, delivering enhanced services, and reshaping the way homeowners insurance is accessed and experienced across the United States.
