Irys, a company focused on rebuilding the foundations of insurance technology, has successfully raised $12.5 million in a recent seed funding round. This round was led by Markd, and it attracted investments from a variety of notable participants including Deepwork Capital, Florida Opportunity Fund, Ansay & Associates, HICO Ventures, and JMG Capital.
Irys aims to modernize the insurance sector with innovative software solutions. The company believes that the current infrastructure is outdated and needs significant improvement to meet the evolving demands of the market. With this funding, Irys plans to enhance its technology and expand its offerings.
Markd, the lead investor, has a track record of backing promising tech startups. The participation of venture firms like Deepwork Capital and HICO Ventures highlights a growing interest in the insurtech space. These investors bring experience and resources that can help Irys navigate the complexities of the insurance industry.
With the new funding, Irys intends to accelerate product development and more effectively cater to the needs of insurance companies. They aim to provide tools that can help streamline operations, improve customer experiences, and ultimately make insurance a more efficient process overall.
This investment round signals a firm belief in the potential of technology to reshape traditional industries like insurance. As the landscape evolves, companies like Irys will be essential in driving change and addressing the challenges that insurers face today.
Original Source: https://finance.yahoo.com/news/investors-back-irys-insurtech-12-121000732.html