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==Products and services==

==Products and services==

Openly provides homeowners-insurance policies that are sold exclusively through independent insurance agents rather than directly to consumers.<ref name=”IJ2021“>{{cite news |title=Openly Expands Homeowners Coverage to More States |website=Insurance Journal |date=September 28, 2021 |url=https://www.insurancejournal.com/news/national/2021/09/28/634280.htm |access-date=October 24, 2025}}</ref> The company’s products are primarily aimed at higher-value homes and include standard homeowners coverages such as dwelling, personal property, liability, and loss-of-use protection.<ref name=”Policygenius”>{{cite web |title=Openly Home Insurance Review: Ideal for High-Value Homes |author=Jennifer Gimbel |website=Policygenius |date=November 20, 2023 |url=https://www.policygenius.com/homeowners-insurance/reviews/openly/ |access-date=October 24, 2025}}</ref> Optional features available in some policies include guaranteed replacement cost coverage, expanded protection for high-value personal items, and add-ons for water backup, equipment breakdown, or short-term rental exposures.<ref name=”InsurTechDigital”>{{cite web |title=Insurtech Openly Raises US$100m in Series D Funding |author=Louis Thompsett |website=InsurTech Digital |date=September 25, 2023 |url=https://insurtechdigital.com/articles/insurtech-openly-raises-usd100m-in-series-d-funding |access-date=October 24, 2025}}</ref> Openly’s underwriting platform uses data analytics and predictive modeling to generate real-time quotes and pricing, aiming to simplify the process for independent agents.<ref name=”GlobeNewswire”>{{cite web |title=Openly Modernizes Homeowners Insurance with Growth Strategy Driven by Verisk Data |website=GlobeNewswire |date=November 29, 2022 |url=https://www.globenewswire.com/news-release/2022/11/29/2564111/0/en/Openly-Modernizes-Homeowners-Insurance-with-Growth-Strategy-Driven-by-Verisk-Data.html |access-date=October 24, 2025}}</ref> Independent analyses describe Openly’s policies as technology-driven and flexible, offering personalized coverage through agent partnerships while remaining available in a limited number of U.S. states.<ref name=”Policygenius”/>

Openly provides homeowners-insurance policies that are sold exclusively through independent insurance agents rather than directly to consumers.<ref name=””/> The company’s products are primarily aimed at higher-value homes and include standard homeowners coverages such as dwelling, personal property, liability, and loss-of-use protection.<ref name=”Policygenius”>{{cite web |title=Openly Home Insurance Review: Ideal for High-Value Homes |author=Jennifer Gimbel |website=Policygenius |date=November 20, 2023 |url=https://www.policygenius.com/homeowners-insurance/reviews/openly/ |access-date=October 24, 2025}}</ref> Optional features available in some policies include guaranteed replacement cost coverage, expanded protection for high-value personal items, and add-ons for water backup, equipment breakdown, or short-term rental exposures.<ref name=”InsurTechDigital”>{{cite web |title=Insurtech Openly Raises US$100m in Series D Funding |author=Louis Thompsett |website=InsurTech Digital |date=September 25, 2023 |url=https://insurtechdigital.com/articles/insurtech-openly-raises-usd100m-in-series-d-funding |access-date=October 24, 2025}}</ref> Openly’s underwriting platform uses data analytics and predictive modeling to generate real-time quotes and pricing, aiming to simplify the process for independent agents.<ref name=”GlobeNewswire”>{{cite web |title=Openly Modernizes Homeowners Insurance with Growth Strategy Driven by Verisk Data |website=GlobeNewswire |date=November 29, 2022 |url=https://www.globenewswire.com/news-release/2022/11/29/2564111/0/en/Openly-Modernizes-Homeowners-Insurance-with-Growth-Strategy-Driven-by-Verisk-Data.html |access-date=October 24, 2025}}</ref> Independent analyses describe Openly’s policies as technology-driven and flexible, offering personalized coverage through agent partnerships while remaining available in a limited number of U.S. states.<ref name=”Policygenius”/>

== Funding ==

== Funding ==

Revision as of 06:31, 24 October 2025

Openly, Inc. is an American insurance technology company headquartered in Boston, Massachusetts. Founded in 2017 by Ty Harris and Matt Wielbut, the company provides data-driven homeowners insurance products sold exclusively through independent agents.[1]

The company launched publicly in 2019 and has since expanded operations to more than twenty U.S. states.[1] Openly has attracted significant venture funding, including $75 million in Series C financing in 2021 and $100 million in Series D funding in 2023 led by Advance Venture Partners and Eden Global Partners.[2][3] In 2025, Forbes included Openly among America’s Best Startup Employers.[4] The company’s technology-driven underwriting model and independent-agent approach have been profiled by industry media outlets including Insurance Journal, Insurance Innovation Reporter, and Policygenius.[5]

History

Openly was founded in 2017 by former Liberty Mutual executive Ty Harris and technology co-founder Matt Wielbut. The company launched publicly in 2019 and began offering homeowners insurance in Massachusetts and Illinois, before later expanding to more than 20 states.[1][6] Openly expanded its operations by working with independent insurance agents in several regions across the United States.[7][8] The company sells homeowners insurance through independent agents rather than directly to customers.[8]

In 2021, Openly raised $75 million in Series C funding led by Advance Venture Partners to support its growth.[9] In 2023, the company raised an additional $100 million in Series D funding co-led by Advance Venture Partners and Eden Global Partners to expand its presence in more states.[10][11]

By 2025, Openly offered services in more than twenty U.S. states and was included in Forbes magazine’s list of America’s Best Startup Employers.[12]

Products and services

Openly provides homeowners-insurance policies that are sold exclusively through independent insurance agents rather than directly to consumers.[13] The company’s products are primarily aimed at higher-value homes and include standard homeowners coverages such as dwelling, personal property, liability, and loss-of-use protection.[14] Optional features available in some policies include guaranteed replacement cost coverage, expanded protection for high-value personal items, and add-ons for water backup, equipment breakdown, or short-term rental exposures.[15] Openly’s underwriting platform uses data analytics and predictive modeling to generate real-time quotes and pricing, aiming to simplify the process for independent agents.[16] Independent analyses describe Openly’s policies as technology-driven and flexible, offering personalized coverage through agent partnerships while remaining available in a limited number of U.S. states.[14]

Funding

In 2021, Openly raised $75 million in Series C funding led by Advance Venture Partners.[17]
In 2023, the company announced a $100 million Series D round to expand nationwide.[18][3][19]

Recognition

In 2025, Openly was listed among Forbes magazine’s America’s Best Startup Employers.[4]

The company has also been covered by independent industry media outlets, including Insurance Journal , Insurance Innovation Reporter and Policygenius.[19][20][5]

See also

  • Insurtech
  • List of insurance technology companies

References

  1. ^ a b c “Openly Expands Homeowners Coverage to More States”. Insurance Journal. September 28, 2021. Retrieved October 21, 2025.
  2. ^ “Openly Raises $75 Million Series C Funding Led by Advance Venture Partners”. The Insurer. 2021.
  3. ^ a b Thompsett, Louis (September 25, 2023). “Insurtech Openly raises US$100m in Series D funding”. InsurTech Digital. Retrieved October 21, 2025.
  4. ^ a b “America’s Best Startup Employers 2025”. Forbes. 2025. Retrieved October 21, 2025.
  5. ^ a b Gimbel, Jennifer (November 20, 2023). “Openly Home Insurance Review: Ideal for High-Value Homes”. Policygenius. Retrieved October 21, 2025.
  6. ^ “Openly Expands Homeowners Coverage into Connecticut”. Insurance Edge. May 8, 2024. Retrieved October 21, 2025.
  7. ^ “Openly Expands Homeowners Coverage to More States”. Insurance Journal. September 28, 2021. Retrieved October 21, 2025.
  8. ^ a b Gimbel, Jennifer (November 20, 2023). “Openly Home Insurance Review: Ideal for High-Value Homes”. Policygenius. Retrieved October 21, 2025.
  9. ^ “Openly Raises $75 Million Series C Funding Led by Advance Venture Partners”. The Insurer. 2021. Retrieved October 21, 2025.
  10. ^ Thompsett, Louis (September 25, 2023). “Insurtech Openly raises US$100m in Series D funding”. InsurTech Digital. Retrieved October 21, 2025.
  11. ^ “Openly Secures $100 Million in Series D Funding”. Insurance Journal. September 21, 2023. Retrieved October 21, 2025.
  12. ^ “America’s Best Startup Employers 2025”. Forbes. 2025. Retrieved October 21, 2025.
  13. ^ Cite error: The named reference IJCoverage2021 was invoked but never defined (see the help page).
  14. ^ a b Jennifer Gimbel (November 20, 2023). “Openly Home Insurance Review: Ideal for High-Value Homes”. Policygenius. Retrieved October 24, 2025.
  15. ^ Louis Thompsett (September 25, 2023). “Insurtech Openly Raises US$100m in Series D Funding”. InsurTech Digital. Retrieved October 24, 2025.
  16. ^ “Openly Modernizes Homeowners Insurance with Growth Strategy Driven by Verisk Data”. GlobeNewswire. November 29, 2022. Retrieved October 24, 2025.
  17. ^ “Openly Raises $75 Million Series C Funding Led by Advance Venture Partners”. The Insurer. 2021.
  18. ^ Deutscher, Maria (September 25, 2023). “Openly raises $100M for its AI-powered homeowners insurance platform”. SiliconANGLE. Retrieved October 21, 2025.
  19. ^ a b “Openly Secures $100 Million in Series D Funding”. Insurance Journal. September 21, 2023. Retrieved October 21, 2025.
  20. ^ “Openly Raises $100M in Series D Funding Led by Eden Global Partners”. Insurance Innovation Reporter. September 21, 2023. Retrieved October 21, 2025.

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