Insurtech
weekly news roundup: June 24
Openly, an insurtech MGA focused on upscale homeowners’
insurance, closed a $75 million venture capital round. Plans call for using the
money to start expanding into other insurance sectors.
The Series C investment attracted new and returning
venture capital investors such as Advance Venture Partners, Clocktower Ventures,
Obvious Ventures, Gradient Ventures, PGJ Ventures, Techstars and Mtech. For the
first time, independent insurance agency owners themselves also participated.
The Boston, Mass.-based company said it would use the
money to expand its home insurance product to more states and insurance
agencies. It will also continue to work on improving its technology and
offerings.
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