Insurance Technology Platform Hi Marley Closes $8.7 Million in Series A Funding
With round led by True Ventures, Hi Marley streamlines the claims process and carrier communication with AI-enabled messaging
BOSTON, June 12, 2019 /PRNewswire/ -- Today, insurance technology company Hi Marley announced that early stage venture capital firm True Ventures has led its $8.7 million Series A funding round, with participation from Underscore VC.
Hi Marley is revolutionizing the insurance industry with its intelligent conversational platform. The messaging solution works alongside insurance carriers to modernize customer conversations by connecting the entire insurance ecosystem. Hi Marley streamlines communication around claims, underwriting and service interactions to improve the customer experience. This increases retention and lifetime value while reducing costs and cycle time. By uniting siloed entities that fall within a typical customer experience – carriers, agents and service providers – Hi Marley drives better outcomes for customers, insurers and their partners.
"Hi Marley automates the claims process while still maintaining a very human element," said True Ventures Partner Puneet Agarwal. "For all stakeholders in the insurance ecosystem, the platform enables a new level of customer happiness the industry has never before seen." Agarwal has joined the Hi Marley board.
True Ventures received the National Venture Capital Association's 2018 Firm of the Year Award and has a strong track record of backing SaaS companies with strong product-market fit. The support of the firm validates Hi Marley's vision to empower the insurance ecosystem with an AI-driven platform.
"We're beyond thrilled to have True Ventures and Underscore join us as we fill the communication gap between insurers and their customers," said Mike Greene, Hi Marley CEO. "We're far into the age of the customer, and the insurance industry wants in. We wanted to provide a solution that's sole purpose is to delight the end customer by delivering what they expect. To create a seamless customer insurance experience, we are connecting all the various insurance players into a single conversation, happening in real time. We're ecstatic to build this service for the world."
Hi Marley is based in thriving downtown Boston, which sparked support and backing from local venture capital firm Underscore.
"Building on the founders' deep industry experience and tapping into Boston's rich talent pool, the Hi Marley team is well positioned to transform customer experience across the insurance ecosystem. We at Underscore, alongside our Core community, are proud to be a local partner alongside the Hi Marley team," said Lily Lyman of Underscore VC. Underscore's community-driven model aligns perfectly with Hi Marley's community-focused platform to alleviate the communication barrier, so carriers and customers can move forward together.
About Hi Marley, Inc.
Hi Marley is a software provider offering the first AI-enabled conversation platform specifically designed for the insurance industry. Hi Marley enables insurance carriers to easily and quickly communicate with customers and other partners in the insurance ecosystem so they can deliver an optimal customer experience. The platform has flexible APIs and requires zero integration to get started. Learn more at www.himarley.com.
About Underscore VC
Underscore VC is a Boston-based venture capital firm that backs bold entrepreneurs from inception to scale with dynamic capital and an aligned community designed to fit each startup's unique needs. To learn more about Underscore VC and the Underscore Core community, visit www.underscore.vc.
About True Ventures
Founded in 2005, True Ventures is a Silicon Valley-based venture capital firm that invests in early stage technology startups. With more than $2 billion under management, True provides seed and Series A financing to entrepreneurs in today's fastest growing markets. The True team believes creativity flourishes when founders are supported fully and empowered to pursue brave ideas. To that end, the firm offers programs that inspire both professional and personal growth. To date, True has helped more than 250 companies launch and scale their businesses, creating over 10,000 jobs worldwide. The firm was awarded 2018 Venture Firm of the Year by the National Venture Capital Association. To learn more, visit www.trueventures.com.
Press Contact:
Taylor Lord
Director of Marketing, Hi Marley
[email protected]
(844) 962-7539
SOURCE Hi Marley, Inc.
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