Insurtech Hi Marley attracts new funding for carrier communication tool

Massachusetts-based insurtech firm Hi Marley has closed an $8 million A1 round, bringing its total financing to $18.6 Million, for product expansion.

The insurtech's AI-powered intelligent conversation platform, specifically designed for the insurance industry, helps streamline the claims process and carrier communication.

The new funding was led by True Ventures and Underscore VC, along with Bain Capital Ventures and Greenspring Associates.

Mike Greene, founder and CEO of Hi Marley, said: "We value the existing partnership with Underscore VC and True Ventures and welcome our new partners at Bain Capital Ventures and Greenspring. We're grateful to have investors who appreciate the insurance industry and are aligned with the purpose and vision we share with our innovative customers."

Puneet Agarwal, partner at True Ventures, commented: "Hi Marley is solving a fundamental problem with the way insurance carriers interact with their insureds. The deep industry expertise of the Hi Marley team combined with their aspiration to change the way people experience and think about insurance makes it the type of market-changing company with whom we're excited to partner and proud to back."