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HeraldAPI has raised $8.0M across 1 funding round.
Key people at HeraldAPI.
HeraldAPI has raised $8.0M in total across 1 funding round.
HeraldAPI provides digital infrastructure and AI-enabled tools for commercial insurance, streamlining the placement process for brokerages and carriers. Its core product is an API that enables quoting and binding insurance from multiple carriers through a single integration. The platform leverages artificial intelligence to automate data gathering, manage submissions, and facilitate strategic placement through components like Workbench, Inbox, and Data connectivity.
HeraldAPI was founded in 2021 by Matthew Antoszyk and Duncan Crystal. Their entrepreneurial journey began with the recognition that the commercial insurance sector lacked a unified, accessible API, leading them to build a solution that simplifies connections between software developers, brokers, and underwriting carriers. This insight aimed to enhance efficiency and collaboration across the insurance ecosystem.
The company serves retail agencies, wholesale brokerages, and insurance carriers and MGAs, empowering them to manage and place commercial insurance more effectively. HeraldAPI's long-term vision centers on transforming insurance placement end-to-end by building an AI-native platform that enables faster, more accurate business transactions for all participants.
HeraldAPI has raised $8.0M in total across 1 funding round.
HeraldAPI's investors include Lightspeed Venture Partners.
Key people at HeraldAPI.
HeraldAPI has raised $8.0M across 1 funding round. Most recently, it raised $8.0M Herald - Other Equity in December 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 15, 2021 | $8M Venture Round | Lightspeed Venture Partners | — | Announced |
HeraldAPI (Herald) builds digital infrastructure for the commercial insurance industry through a unified API that connects brokers and technology providers to multiple carriers, enabling real-time quoting, binding, and issuing of insurance products across lines like General Liability, Workers’ Comp, BOP, Cyber, and more.[1][2][6] It serves brokerages, SaaS platforms, MGAs, and carriers by integrating into existing workflows such as Agency Management Systems (AMS) or CRMs, solving fragmented connectivity, duplicative data entry, and slow integration timelines that hinder efficiency for small businesses seeking coverage.[1][2][6] With strong growth—including $8M seed funding in 2021 led by Lightspeed Venture Partners, a $12M raise, partnerships with 8 of the top-25 brokerages, over 60 products from top carriers, and the acquisition of AI startup Babbix—Herald is accelerating AI-powered automation and data standardization.[1][2][5][7]
Founded in 2021, Herald emerged from the need to digitize commercial insurance connectivity, with its first General Liability integration launched in June 2021, marking the start of building API infrastructure in production code.[3] CEO and co-founder Matt Antoszyk leads the team, emphasizing seamless broker-carrier connections; the company quickly gained traction by integrating 16 insurance products in its first year, including webhooks, data coercion for better quotes, dynamic applications, and bind functionality.[1][3] Pivotal moments include the $8M seed round in October 2021, rapid expansion to over 20 products, the launch of the first Insurance API Index cataloging nearly 100 APIs, and the strategic acquisition of Babbix in a move to infuse AI capabilities for email-native quoting and cross-selling.[1][3][5]
Herald rides the digital transformation wave in commercial insurance, where legacy systems create silos amid rising demand for real-time, API-driven efficiency as brokerages modernize placement processes.[1][2][4] Timing aligns with insurtech maturation—post-2021 funding boom—and AI adoption, amplified by its Babbix acquisition to automate manual tasks like quoting, positioning it amid market forces favoring interoperability over fragmented integrations.[5][7] By building an open data standard and API index, Herald influences the ecosystem as a neutral infrastructure layer, enabling carriers to unlock digital distribution, brokers to scale, and startups to innovate faster, much like Stripe did for payments.[2][3][6]
Herald is poised to dominate as the go-to API gateway for commercial insurance, leveraging its $12M funding to expand AI automations, new products, and carrier ties while deepening brokerage penetration.[2][7] Trends like AI agents, embedded insurance, and standardized data will propel growth, potentially evolving Herald into a full-stack platform influencing policy lifecycles end-to-end. As insurtech consolidates, its infrastructure moat and early-mover status could drive acquisitions or unicorn trajectory, redefining connectivity much like its inaugural code release promised in 2021.[3][5]
