Home Breaking News Massachusetts based start-up Hi Marley raises USD 25 Million in funds

Massachusetts based start-up Hi Marley raises USD 25 Million in funds

Boston based organization Hi Marley has secured USD 25 million funds on 11th of March,2021 in series B round led by Emergence Capital. 

Investors: The capitalization of USD 25 million funds took place in the series B funding round led by Emergence Capital along with the involvement of previous investors like Underscore VC, Greenspring Associates and True ventures

What the funding is for: the fresh funding would be utilized for expanding the organization’s reach and in the development of their structure models. The company is also aiming to create new features and ensure that the platform scales across the enterprise and does some hiring. 

About the company: Hi Marley is a privately held organization which operates under the insurance industry. Its headquarters is established in Boston, Massachusetts and has a work strength of around 11-50 employees. They also deal with various specialties like software, insurance and SaaS. Hi Marley is basically an organization which is a developer of an artificially intelligent based SMS texting platform designed to bridge the conversation. 

Founders of the company: John Miller, Mike Greene and Mitesh Suchak

Founded year: 2017

What the CEO has to say: “Demand is there and no doubt the COVID 19 pandemic forcing more people to go digital has led to still more consumer demand for new ways to communicate. Last year the number of carriers using the company’s platform doubled and they noticed a 4x increase in its user base. Currently the start-up has over 40 customers live in production, including American family, auto owners and MAPFERE. Unlike horizontal chart solutions we are tackling the entire communication layer across the insurance enterprise for our carriers and their ecosystem partners.” — Mike Green, Co-founder of Hi Marley. 

“In the same way Veeva expanded from CRM to additional software solutions that power the pharmaceutical industry we continue to be bullish on start-up building vertically focused solutions that can power an entire industry. Historically insurance has been viewed as a necessary evil a purchase made purely for the sake of security and safety. And in today’s environment carriers using old communication strategies will likely see a negative impact on performance.” — John Miller, Co-founder of Hi Marley. 

What the investors have to say: “Most of us can likely agree that our experience dealing with insurers during times of need have been less than ideal if not unpleasant altogether. But Mike wants to reverse the indifference or negative impression, he is on a mission to make insurance lovable. A new communication fabric between carriers and their ecosystem to benefit end customers is needed.” — General Manager at Emergence Capital. 

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