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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 across 6 funding rounds. Most recently, it raised $120.0M Series U in January 2025.
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insurance agents and their high-net-worth clients by solving longstanding industry pain points like slow quoting, outdated systems, and inflexible coverage through a proprietary tech stack integrating machine learning, actuarial science, and modern tools for faster quotes, clearer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Openly rides the insurtech wave transforming a trillion-dollar industry plagued by outdated tech and rising climate risks, particularly for high-value homes.[1][6] Its timing aligns with surging demand for digitized, agent-distributed insurance amid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.
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.
