Company:Openly, Inc.

From HandWiki
Openly, Inc.
TypePrivate
IndustryInsurance technology
Founded2017
FoundersTy Harris, Matt Wielbut
Area served
United States
Key people
Ty Harris (CEO)
ProductsHomeowners insurance
Websiteopenly.com

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 September 2023, the company announced a $100 million Series D round to expand nationwide.[18][3][19]

By the end of 2023, Openly wrote approximately US$301 million in homeowners-insurance premiums — an 85 percent year-over-year increase — and operated in 21 U.S. states.[20]

According to Coverager, these results brought the company’s total venture funding to about US$238 million since its founding in 2017.[20]

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][21][5]

See also

  • Insurtech
  • List of insurance technology companies

References

  1. ↑ 1.0 1.1 1.2 "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. ↑ 3.0 3.1 Thompsett, Louis (September 25, 2023). "Insurtech Openly raises US$100m in Series D funding". https://insurtechdigital.com/articles/insurtech-openly-raises-us-100m-in-series-d-funding. 
  4. ↑ 4.0 4.1 "America's Best Startup Employers 2025". Forbes. 2025. Retrieved October 21, 2025.
  5. ↑ 5.0 5.1 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". May 8, 2024. https://insurance-edge.net/2024/05/08/openly-expands-homeowners-cover-into-connecticut/. 
  7. ↑ "Openly Expands Homeowners Coverage to More States". Insurance Journal. September 28, 2021. https://www.insurancejournal.com/news/national/2021/09/28/635127.htm. 
  8. ↑ 8.0 8.1 Gimbel, Jennifer (November 20, 2023). "Openly Home Insurance Review: Ideal for High-Value Homes". Policygenius. https://www.policygenius.com/homeowners-insurance/openly-home-insurance-review/. 
  9. ↑ "Openly Raises $75 Million Series C Funding Led by Advance Venture Partners". The Insurer. 2021. https://www.theinsurer.com/news/openly-raises-75mn-series-c-funding-led-by-advance-venture-partners/. 
  10. ↑ Thompsett, Louis (September 25, 2023). "Insurtech Openly raises US$100m in Series D funding". InsurTech Digital. https://insurtechdigital.com/articles/insurtech-openly-raises-us100m-in-series-d-funding. 
  11. ↑ "Openly Secures $100 Million in Series D Funding". Insurance Journal. September 21, 2023. https://www.insurancejournal.com/news/national/2023/09/21/738560.htm. 
  12. ↑ "America's Best Startup Employers 2025". Forbes. 2025. https://www.forbes.com/lists/americas-best-startup-employers/. 
  13. ↑ "Openly Expands Homeowners Coverage to More States". September 28, 2021. https://www.insurancejournal.com/news/national/2021/09/28/634280.htm. 
  14. ↑ 14.0 14.1 Jennifer Gimbel (November 20, 2023). "Openly Home Insurance Review: Ideal for High-Value Homes". https://www.policygenius.com/homeowners-insurance/reviews/openly/. 
  15. ↑ Louis Thompsett (September 25, 2023). "Insurtech Openly Raises US$100m in Series D Funding". https://insurtechdigital.com/articles/insurtech-openly-raises-usd100m-in-series-d-funding. 
  16. ↑ "Openly Modernizes Homeowners Insurance with Growth Strategy Driven by Verisk Data". November 29, 2022. https://www.globenewswire.com/news-release/2022/11/29/2564111/0/en/Openly-Modernizes-Homeowners-Insurance-with-Growth-Strategy-Driven-by-Verisk-Data.html. 
  17. ↑ "Openly Raises $75 Million Series C Funding Led by Advance Venture Partners". 2021. https://www.theinsurer.com/news/openly-raises-75m-series-c-funding/. 
  18. ↑ Deutscher, Maria (September 25, 2023). "Openly raises $100M for its AI-powered homeowners insurance platform". https://siliconangle.com/2023/09/25/openly-raises-100m-ai-powered-homeowners-insurance-platform/. 
  19. ↑ 19.0 19.1 "Openly Secures $100 Million in Series D Funding". September 21, 2023. https://www.insurancejournal.com/news/national/2023/09/21/738915.htm. 
  20. ↑ 20.0 20.1 "Openly crosses $300 million in written premiums". August 2024. https://coverager.com/openly-crosses-300-million-in-written-premiums/. 
  21. ↑ "Openly Raises $100M in Series D Funding Led by Eden Global Partners". September 21, 2023. https://iireporter.com/openly-raises-100m-in-series-d-funding-led-by-eden-global-partners/. 




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