NYC Startups Raise Funds for Agentic AI
Several New York-based startups focused on agentic AI have secured significant funding. Comeryx, an AI-native MGA for small business insurance, launched with a $7.5M seed round. Stacks, an agentic platform for enterprise finance, closed a $23M Series A, while Jump, an AI intelligence engine for financial advisors, raised an $80M Series B.
- Agentic AI, the technology leveraged by all three startups, represents a shift from AI that simply assists or analyzes to AI that can autonomously act and make decisions to achieve goals. Unlike traditional AI, which follows predefined rules, or generative AI, which creates content, agentic AI can manage entire workflows, such as underwriting or claims resolution, with minimal human intervention. - Comeryx is using an AI-native Managing General Agent (MGA) platform to automate the underwriting process for small business insurance, specifically for artisan contractors in the Excess & Surplus (E&S) market. Their proprietary decision engine uses agentic AI to ingest submissions, apply adaptive underwriting rules, and handle the entire workflow from quote to issuance in minutes, addressing a segment often neglected due to the high cost of manual underwriting for small premiums. - Stacks is tackling the complexities of enterprise finance by using agentic AI to automate labor-intensive processes like reconciliations, journal entries, and the month-end close. Their platform learns from the actions of accountants to handle dynamic and complex scenarios that rule-based systems cannot, aiming to reduce close cycles by as much as 50%. - Jump's AI platform for financial advisors is moving beyond automating meeting notes and administrative tasks to providing proactive, agentic insights. The goal is for the AI to independently identify opportunities, risks, and the next best actions for advisors by analyzing client interactions and market data, functioning as an AI-powered paraplanner. - The founding team of Comeryx includes CEO Dax Craig, who previously co-founded Pie Insurance and Valen Analytics, bringing experience in insurance and data analytics. Stacks was founded by former leaders from Uber and Plaid, combining expertise in technology and finance. - The funding rounds for these startups reflect a broader trend of significant venture capital investment in the NYC AI sector. In the first quarter of 2025, NYC-based AI companies secured approximately $1.5 billion across 81 deals, significantly outpacing other tech hubs like Los Angeles and Boston. - Stacks has developed a foundational data layer that connects to various financial systems (ERPs, spreadsheets, etc.) to create a single, unified view before deploying its AI agents. This approach addresses the critical challenge of fragmented data in enterprise finance, which is often a barrier to effective automation and AI implementation. - Jump's platform integrates with a variety of tools used by financial advisors, including CRMs like Salesforce and Wealthbox, as well as video conferencing platforms. This integration allows the AI to capture and process data from multiple sources to automate tasks and generate insights.
