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Openly has raised $358.0M across 6 funding rounds.
Key people at Openly.
Openly has raised $358.0M in total across 6 funding rounds.
Openly is a premium home insurance provider that simplifies the insurance process for homeowners through independent agents, offering customizable policies and a seamless claims experience.
Openly has raised $358.0M in total across 6 funding rounds.
Openly's investors include Courtney Robinson, Gradient Ventures, Greenlight Re, Obvious Ventures, Max Blumenthal, David Dwek, Seedstars, Clocktower Technology Ventures, Trinity Capital, Advance Venture Partners, MTech Capital, PJC.
Openly has raised $358.0M across 6 funding rounds. Most recently, it raised $120.0M Series U in January 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2025 | $120M Series U | — | Courtney Robinson, Gradient Ventures, Greenlight RE, Obvious Ventures, MAX Blumenthal | Announced |
| Sep 1, 2023 | $100M Series D | David Dwek | Gradient Ventures, Seedstars, Clocktower Technology Ventures, Gradient, Trinity Capital | Announced |
| Jun 1, 2022 | $75M Series C | — | Courtney Robinson, Advance Venture Partners, Gradient Ventures, Greenlight RE, Obvious Ventures, Seedstars, MAX Blumenthal, AVP, Clocktower Technology Ventures, Gradient, MTech Capital, PJC, Techstars | Announced |
| Dec 1, 2020 | $40M Series B | — | Courtney Robinson, Advance Venture Partners, Gradient Ventures, Greenlight RE, Obvious Ventures, Seedstars, MAX Blumenthal | Announced |
| Jun 1, 2020 | $15M Series A | Obvious Ventures | Courtney Robinson, Gradient Ventures, Greenlight RE, Seedstars, MAX Blumenthal, Zachary Bratun Glennon, PJC | Announced |
| Nov 1, 2019 | $8M Seed | Gradient | Gradient Ventures, Seedstars, Greenlight RE Innovations, PJC, Techstars, The Hanover Insurance Group | Announced |
Openly is a Boston-based insurtech company founded in 2017 that provides innovative, technology-enabled homeowners insurance, focusing on high-value policies sold exclusively through independent agents.[1][4][6] It serves independent insurance agents and their high-net-worth clients by solving longstanding industry pain points like slow quoting, outdated systems, and inflexible coverage through a proprietary tech stack integrating machine learning, actuarial science, and modern tools for faster quotes, clearer policies, and smoother claims.[1][2][5] Openly has raised $430.77M in funding, with its latest $70M debt round four months ago, signaling strong growth momentum in a competitive market alongside peers like Hippo and Kin.[6]
Openly was founded in 2017 in Boston, Massachusetts, by Ty Harris (formerly of Liberty Mutual) and Matt Wielbut (founding partner of two prior insurtech ventures and the company's CTO).[1][2] The idea emerged from their recognition of market gaps in premium home insurance: cumbersome processes, legacy systems, and a lack of agent-friendly tools, despite over 200 years of combined industry experience across the leadership team.[1][5] Early traction came from building a revolutionary approach—prioritizing insurance expertise first, then layering technology to streamline experiences—leading to rapid deployment of updates and API integrations that agents demanded.[2]
Openly stands out in the insurtech space through several key advantages:
Openly rides the insurtech wave transforming a trillion-dollar industry plagued by outdated tech and rising climate risks, particularly for high-value homes.[1][6] Its timing aligns with surging demand for digitized, agent-distributed insurance amid market forces like catastrophe losses and tech adoption by agencies—evidenced by $430M+ funding and competition from Hippo, Kin, and TypTap.[6] By prioritizing independent channels (80%+ of U.S. P&C market), Openly influences the ecosystem by elevating agent capabilities, enabling scalable distribution, and pushing incumbents toward modernization without disrupting trusted advisor relationships.[2][5]
Openly's blend of insurance acumen and agile tech positions it for expansion beyond homeowners into life and auto insurance via its AI-powered platform.[7] Upcoming self-service enhancements and deeper API ecosystems will accelerate agent adoption, while trends like AI underwriting and climate-resilient policies shape its trajectory amid insurtech consolidation.[2][6] Its influence will likely grow as a highflier, potentially leading agent empowerment in a market favoring tech-native carriers—reinforcing its mission to make premium insurance simple and superior.[1][5]
Key people at Openly.
