Openly, a Boston, MA-based provider of homeowners insurance platform, closed a $15m Series A funding.
The round was led by Obvious Ventures, with participation from existing investors including Gradient Ventures (Google’s AI-focused Venture Fund), Point Judith Capital (PJC) Ventures, and others.
The company intends to use the funds to enter new states, including Massachusetts, Indiana, Ohio, Georgia, and South Carolina.
Since launching in late 2019, Openly has seen rapid adoption of its home insurance product and has expanded its coverage, currently on track to be live in 10 or more states by year-end. Agents are already live on its platform in Arizona, Illinois, Pennsylvania, Tennessee, and Kentucky.
Founded by insurance industry and technology veterans Ty Harris and Matt Wielbut, Openly uses technology to simplify the homeowners insurance process for independent agents and consumers, enabling them to obtain quotes quickly. The company’s product combines technology with pricing methodology to offer homeowners comprehensive coverage and protection at a competitive price.