Homeowners InsurTech Openly announced it has raised $100 million in Series D funding.
The round was 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, Eden Global Partners CEO David Dwek 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 through its technology platform. Co-Founders Ty Harris and Matt Wielbut said in a company press release that they identified an opportunity to revolutionize homeowners insurance by supporting the independent agent channel with a platform that streamlines agency processes, expands coverage, improves risk underwriting, and enhances the claims experience.
“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,” said Openly Co-Founder and CEO Harris in the release. “Eden Global Partners is an ideal firm to support our pursuit of the massive, long-term opportunity to modernize homeowners insurance in the United States, and we’re thrilled to have them as our partner.”
Openly now serves 30,000 independent agents across 21 states in the U.S.