Openly
Home insurance platform
- 201-500 employees
- B2C
- Insurance
- SaaS
- Columbus, Boston, MA
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Company mission
To empower independent insurance agents to deliver a modern, efficient, and superior customer experience.
22% employee growth in 12 months
Our take
Openly has responded to a perceived gap in the market: while consumers are increasingly buying home insurance through independent agents, the products those agents can offer have not kept up with what’s possible, resulting in wasted time, wasted money, and outdated risk underwriting.
Openly's homeowner insurance platform sells exclusively through independent agencies. The platform watches and updates more than 19,000 vendor profiles daily across 19 states and 91 different industries, detecting changes to key business information, privacy documentation, terms of service agreements and public records. This increases transparency of the risk between buyers and suppliers, which sets Openly apart from its competitors in the insurtech market.
It has grown in-force premium by more than 500% year over year and has already achieved double-digit new sales market share in the majority of its states. The company is taking huge steps and has even partnered with Mastercard to integrate Mastercard's RiskRecon cyber risk data into its platform so that organizations can better understand their risk profile. It now has plans to expand its home insurance product to more states and agencies and to enhance its technology and insurance product.
Kirsty
Company Specialist at Welcome to the Jungle
Benefits
- 401k Company Contribution: We love working here, but who wants to work forever? Take advantage of our 401K plan and generous company contribution
- Real Work-Life Balance: Ensuring you can spend valuable time with friends and family is a priority. We offer flexible PTO and a generous parental leave policy
- Company equity
- Remote-First Culture: With employees in 40 states and counting, we promoted #remotelife long before it was adopted by other companies
- WFH Setup: Day 1, you'll receive a new laptop, a $1,500 allowance to spend on setting up your home workplace, and a monthly internet stipend
- Health and Wellness: Your well-being comes first. We offer a variety of plans to suit your needs, ranging from the basics to supplemental coverages
Funding (last 2 of 6 rounds)
Jan 2025
$123m
GROWTH EQUITY VC
Sep 2023
$100m
SERIES D
Total funding: $360.7m
This company has top investors
Leadership
Ty Harris
(Co-Founder & CEO)Studied at MIT before working as a Lecturer at MIT and Northeastern. Went on to spend 12 years at Liberty Mutual Insurance. Co-founded Quote Hopper in June 2017 and, after passing this onto an agency to run, co-founded Openly that August.
Matt Wielbut
(Co-Founder & CTO)Began their career with almost 8 years at Goldman Sachs before co-founding Recitate and Elements Insurance. Used this experience to co-found Openly with Ty.