Boston-based Hi Marley, provider of an AI-enabled texting platform for the insurance ecosystem, has raised $8 million in a Series A1 round led by True Ventures and Underscore VC. Bain Capital Ventures and Greenspring Associates also participated in the round.
This round, which we first reported in March, brings the company's total funding to $18.6 million.
Hi Marley provides a text-based messaging platform that helps insurers and their partners seamlessly connect with customers the way they prefer to communicate. The startup uses AI to simplify transactions across claims, service and underwriting.
Its customer engagement features includes two-way mass communication to support announcements related to the pandemic, such as notifying customers of premium relief credits and billing options.
Founded in 2017 by Mike Green and Mitesh Suchak, the startup counts insurers like American Family, Plymouth Rock and MetLife as clients. Hi Marley will direct the funds from this round towards product development, expanding its engineering and sales teams, and establishing new partnerships.
“Hi Marley is solving a fundamental problem with the way insurance carriers interact with their insureds,” Puneet Agarwal, a partner at True Ventures, said in a statement. “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.”
