Insurance platform Openly unveils US expansion after funding

Homeowners insurance platform Openly has expanded its US footprint on the heels of recent $75 million fundraising, hiring of a reinsurance industry veteran and the launch of its own insurance carrier.

The company has expanded its western presence with entrance into Utah. Openly is now operating in 20 states across the US, supporting agents across the state’s nearly 167 independent insurance agencies.

The move comes shortly after the platform launched its own insurance carrier Openly Insurance Company and unveiled a $75 million Series C funding round, which is part of plans to expand its presence in the insurance industry and offer its premium coverage to more agents and homeowners. Openly also recently hired an industry veteran from Everest Re to help scale its business in the reinsurance market.

“The Openly team is delighted to offer our tech-enabled product to the independent agents of Utah,” said Ty Harris (pictured), CEO and co-founder of Openly. “Our continued expansion westward is another exciting milestone as we provide access to Openly’s comprehensive coverage options to homeowners across the United States, and solidify our position as the leading provider of home insurance in the nation.”

Did you get value from this story? Sign up to our free daily newsletters and get stories like this sent straight to your inbox.