Elysian Raises $6M Seed Round to Redefine Insurance Claims Services with AI-Native Platform

Elysian, the AI-native third-party administrator (TPA) for commercial insurance, today announced the closing of a $6 million seed round led by Portage, with participation from American Family Ventures and TenOneTen Ventures. The funding will accelerate Elysian’s go-to-market efforts, support customer onboarding, and scale the company’s delivery operations and technology platform.

Built to address the complexity of commercial claims, Elysian was founded by Grace Hanson, former lawyer and seasoned executive who previously served as Chief Claims Officer at Allied World, Homesite Insurance, Hiscox, and Hippo Insurance. Grace brings a rare combination of legal expertise and senior claims leadership to Elysian, shaping a product strategy focused on aligning modern tools with the realities of high-stakes claims environments.

“We built Elysian by rethinking claims handling from the ground up – designing a hybrid intelligence system where AI manages the ‘messy middle’ and adjusters can focus on the human parts,” said Grace Hanson, Founder and CEO of Elysian. “Our approach is shaped by firsthand industry insight and designed to raise the standard for modern claims services.”

The company delivers two core offerings, end-to-end claims handling and Dynamic Claim Review (DCR), supported by proprietary AI technology built to work alongside adjusters, not around them. For active claims, Elysian’s system surfaces coverage and liability insights and drafts tailored communications, allowing adjusters to focus on the decisions that matter. DCR brings expert-led analysis to entire claims portfolios, delivering faster, deeper reviews than traditional audits.

“Elysian is bringing purpose-built innovation to the core of commercial claims operations. Their platform provides adjusters with the tools to deliver better outcomes, and we’re excited to support the team in their next phase of growth,” said Ricky Lai, General Partner at Portage.

“Digital TPAs have long been the goal, but delivering this product wasn’t possible before modern AI,” said Minnie Ingersoll, Partner at TenOneTen. “Elysian stood out to us by tackling complexity from the outset and building systems that reflect how adjusters work.”

“We strongly believe the full category of claims administration will be transformed by modern software, predictive modeling, and generative AI. We are excited to support Elysian as they modernize one of the most challenging and highest value segments of commercial claims.” said Kyle Beatty, Managing Director at American Family Ventures.

Elysian’s platform is purpose-built to support the types of nuanced, context-rich claims that traditional TPAs and tech-enabled vendors typically sidestep. The company’s long-term vision is to deliver better outcomes for carriers and claims professionals by redesigning claims services with modern tools and experienced leadership at its core.