Insurtech ManageMy Raises $45M
The insurtech platform ManageMy secured $45 million in a new funding round, which included a $20 million Series B. The investment signals continued venture capital interest in vertical SaaS solutions that modernize core insurance workflows. The company focuses on streamlining account management for insurance providers and their customers.
- The Series B round was co-led by Ventura Capital and OCVC, with OCVC being the investment vehicle of ManageMy co-founder Sean O'Connor, who also co-founded the fintech unicorn Zilch. Ventura Capital and OCVC also co-led the company's Series A round, indicating continued investor confidence. - A significant portion of the new funding is allocated to AI development, specifically for creating "agentic workflows," "explainable decisioning," and data-driven underwriting automation to further enhance their platform. - ManageMy's technology is positioned as a "deep front-end" platform that provides insurers with a no-code, modular system for customer engagement, underwriting, and claims. This allows insurance carriers to integrate modern workflows without replacing their core legacy systems. - While ManageMy is headquartered in Charlotte, NC, it has a presence in New York, a city with a significant insurtech scene comprising 277 such companies that have collectively raised $6.54 billion in venture capital. - The investment in ManageMy aligns with a broader trend in venture capital, where B2B SaaS solutions are gaining a larger share of insurtech funding, growing from 19% in 2016 to 43% in 2024. - The company's platform, which includes the "XPerience Studio," is a no-code command center that enables insurance companies to build and launch new digital products and customer experiences without needing a development team. - ManageMy already serves over 45 major insurance carriers and broker groups across North America, Europe, and Asia Pacific, and plans to use the new funds to scale its team, particularly in engineering and implementation, to support this growth.
