TLDR: Irys, a Tampa, Florida-based insurtech company, has successfully closed a $12.5 million seed funding round. The capital will be used to expand its engineering and customer success teams, scale distribution partnerships, and develop new AI-driven modules for its core insurance operating system. This investment highlights a renewed confidence in the insurance infrastructure sector, particularly in AI-native solutions designed to modernize outdated systems.
Tampa, Florida – Irys, an innovative insurtech firm dedicated to rebuilding insurance infrastructure, announced today the successful completion of a $12.5 million seed funding round. The investment was spearheaded by Markd, with significant contributions from Deepwork Capital, Florida Opportunity Fund, Ansay & Associates, HICO Ventures, and JMG Capital. This substantial capital injection is earmarked for bolstering Irys’s engineering and customer success teams, accelerating implementation processes, and broadening distribution partnerships across the United States and Canada. Furthermore, the company plans to roll out new AI-driven modules for accounting, analytics, and submission management in early 2026.
The funding round signals a robust resurgence of investor confidence in the insurance infrastructure sector, particularly in companies offering transformative, AI-native solutions. This follows closely on the heels of Markd’s own $500 million fundraise, dedicated to supporting pioneering insurtech ventures.
Margeaux Giles, CEO of Irys, expressed her vision for the company, stating, “For 15 years I ran agencies on tech that didn’t care if it was usable. The industry’s been trapped in contracts, broken platforms, and empty promises. It’s eroded the trust agents fight to build every day with their clients. Irys is how we fix that.”
Irys aims to replace decades-old, cumbersome legacy systems with an AI-native, integration-agnostic operating platform. This advanced system is designed to unify financials, operations, and sales and client data in real-time, facilitating seamless communication across various tools and between different AI functionalities. This capability enables scalable automation, significantly enhancing service capacity and profitability without necessitating additional staff.
Highlighting the potential impact of their technology, Giles added, “We’ve seen what simple automation can do. If basic AI can double a service rep’s book from $200K to $500K — imagine what agentic AI can do for an organization that can actually implement it.”
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Currently, Irys’s platform is already supporting several leading brokerages and Managing General Agents (MGAs), collectively representing nearly $1 billion in active written premium. The company is also actively forming agency cohorts to pilot its frictionless, no-data-migration approach to implementation, further demonstrating its commitment to modernizing the insurance distribution landscape.
