Layr Raises $10M in Series A Funding

Lying downan Atlanta, Georgia-based insurtech startup using artificial intelligence and machine learning to help brokerages and agencies manage their small business books, raised $10 million in Series A funding.

The round was led by HSCM Ventures, with participation from MGV, Sandbox Industries, Flyover Capital and Hannover Digital Investments, along with an experienced group of insurance brokers and professionals from The Plexus Group, IMA Corp, Holmes Murphy, The Partners Group, The Graham Agency, Broker Tech Ventures and other insurtechs. Brandon Baron will join Layr’s board as a representative of HSCM Ventures.

The company intends to use the funds to double the team and grow its presence among insurance agents and brokers while adding new technology advancements that allow small businesses to enter the insurance market. .

Led by Phillip Naples, Founder and CEO, Layr is an AI-powered cloud platform that digitizes the entire insurance process by enabling brokers to sell, maintain and renew policies in one central location. private label service. When a new customer purchases policies, proprietary algorithms quote prices while simultaneously purchasing the pre-written package from subscribers – without any broker intervention or API usage. After carrier placement, the end customer can then manage their own policies and access proof of insurance from the broker brand portal.

The company currently supports P&C insurance agencies and brokers in all 50 states by providing technology to efficiently sell and manage tens of millions of dollars in premiums on their books. In 2022, Layr will expand its technology to offer tailored solutions to agencies of all sizes, release new features to improve the broker and client experience, and partner with technology providers to support independent brokers.

EndSME

03/23/2022


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