Openly Closes Growth Investment Round

Home insurance provider Openly announced the close of a growth investment round led by existing investors Eden Global Partners, Advance Venture Partners, and Gradient, with strategic participation from Allianz X. In addition, Openly expanded its long-term reinsurance partnership with Allianz Re.

Prior to this round, Openly had publicly disclosed $360 million in equity funding, and $70 million in debt from Allianz X.

The round will enable Openly to accelerate growth into additional states, deepen agent partnerships, and expand its product offerings. The company is working on a car insurance product.

“Independent agents are the cornerstone of Openly’s business model. With over 60,000 agent partners across 24 states, we’ve demonstrated the effectiveness of our approach. This strengthened partnership with Allianz Re, alongside continued support from our investors, accelerates that commitment: more states, more products, and a stronger platform for every agent who chooses to build their book with us.” – Ty Harris, Co-Founder and CEO of Openly.

“Openly is revolutionizing homeowners insurance with a disciplined, scalable underwriting model that emphasizes rigorous risk selection, precise pricing, and consistent portfolio management—yielding strong loss ratio results despite high natural catastrophe activity in the US in recent years. In a challenging market, Openly exemplifies how growth and responsibility can coexist, which is why we are deepening our commitment to elevate Openly and better serve this key market segment.” – Niklas Mundorf, Senior Manager at Allianz X North America.

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