ManageMy Secures $45 Million Funding
ManageMy, a technology company that provides a wide range of services to the insurance industry, has announced a major cash injection. The funding round was co-led by Ventura Capital and OCVC, the investment vehicle of Zilch co-founder Sean O’Connor.
Funding Details
The company has raised $45 million from investors, including $20 million in a Series B funding round. The latest capital injection also included support from BNF and a consortium of strategic investors from the insurance sector. However, the value at which the funds were raised was unclear.
Company Overview
ManageMy is based in London and is led by co-founder and managing director Stephen Collins. The company helps insurers sell, service, underwrite, and manage policies.
Expansion Plans
The new capital will allow the company to accelerate its expansion into new markets and strengthen its presence in North America. The funding will also support the company’s investments in AI-driven features and product expansion.
Reaction from Investors
"This financing represents an important milestone for ManageMy and validates our vision of a smarter, more integrated and more adaptable insurance operating model," said Collins. "From the beginning, we designed ManageMy to be a scalable, enterprise-ready platform capable of increasing value as insurers grow and modernize."
Industry Perspective
"ManageMy has created something of tremendous strategic value for the insurance industry," said Mo El Husseiny, managing partner at Ventura Capital. "Their combined application of intelligence and automation in insurer and broker environments unlocks value at scale. The insurance industry has had difficulty modernizing its business models compared to the financial services market. ManageMy is at the forefront of the digital transformation of the insurance sector, one of the largest and most lucrative markets in the world."
Previous Funding
Ventura Capital and OCVC also led the company’s Series A round about two years ago. Mr. O’Connor will continue to focus on Zilch, a British fintech unicorn that is expected to go public in the next few years.
