Openly Raises $193M in Series
Openly has successfully raised $193M in a Series at a $1.1B valuation led by Obvious Ventures, Gradient Ventures.
Company Overview
Openly is a InsurTech company headquartered in Boston, MA, founded in 2017 with 300+ employees.
Tech-enabled home insurance services provider
Fundraising Details
- Amount Raised: $193M
- Round Type: Series
- Valuation: $1.1B
- Date: 2025-02-05
- Investors: Obvious Ventures, Gradient Ventures
About Openly
Tech-enabled home insurance services provider The company is positioned in the InsurTech sector, serving a growing market with innovative solutions.
Key Information
- Headquarters: Boston, MA
- Founded: 2017
- Team Size: 300+
- Industry: InsurTech
What This Means
This funding round demonstrates strong investor confidence in Openly's vision and execution. The capital will likely be used to:
- Scale Operations: Expand the team and operational capacity
- Product Development: Enhance existing products and develop new features
- Market Expansion: Enter new markets and strengthen presence in existing ones
- Technology Investment: Invest in infrastructure and technology capabilities
Industry Context
The InsurTech sector continues to attract significant investment as companies innovate to meet evolving market demands. Openly's successful fundraising reflects the strong fundamentals and growth potential in this space.
Valuation Milestone
Reaching a $1.1B valuation marks an important milestone for Openly, positioning the company among notable players in the InsurTech industry.
Looking Ahead
With this new capital, Openly is well-positioned to execute on its growth strategy and continue building innovative solutions in the InsurTech space. The company's trajectory will be one to watch as it deploys this funding to achieve its next phase of growth.
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This fundraising news was reported on 2025-02-05. For more information about Openly, visit their headquarters at Boston, MA.
