Layr, an Atlanta, GA-based insurtech startup using artificial intelligence and machine learning to help brokerages and agencies efficiently manage their small commercial books, announced that it 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. Other participants included The Plexus Groupe, IMA Corp, Holmes Murphy, The Partners Group, The Graham Agency, Broker Tech Ventures, and other insurtechs.
The funding will double Layr’s team and grow its footprint amongst insurance agents and brokers while adding new technology advancements that enable small businesses greater access to the insurance marketplace.
Brandon Baron will join Layr’s Board of Directors as a representative of HSCM Ventures.
Company: Layr Holdings, Inc.
Raised: $10.0M
Round: Series A
Funding Month: March 2022
Lead Investors: HSCM Ventures
Additional Investors: MGV, Sandbox Industries, Flyover Capital, Hannover Digital Investments, The Plexus Groupe, IMA Corp, Holmes Murphy, The Partners Group, The Graham Agency, and Broker Tech Ventures
Company Website: https://withlayr.com/
Software Category: AI-powered cloud platform digitizing the entire insurance
About the Company: Layr is an Atlanta-based insurtech startup using Artificial Intelligence and machine learning to help brokers and agencies efficiently sell and service small business insurance. Using Layr, small business owners can assess and select the right coverage in 12 minutes. Layr is an AI-powered cloud platform digitizing the entire insurance process by enabling brokers to sell, service, and renew traditionally time-consuming policies in a private-labeled service center. Layr helps insurance brokers and agents serve their clients more effectively while increasing the quality of their service. Layr supports independent agencies and brokerages by delivering technology that enables their insureds to purchase, renew, and manage coverage online, 24/7. Layr currently supports leading P&C insurance agencies and brokerages across all 50 states by providing technology to efficiently sell and service tens of millions of dollars worth of premium across their books.
Source: https://withlayr.com/series-a/?utm_campaign=Series%20A&utm_content=201608056&utm_medium=social&utm_source=linkedin&hss_channel=lcp-7945957