Investors Back Irys Insurtech with $12.5 Million to Reinvent Insurance Software

Irys, the company rebuilding insurance infrastructure from the ground up, today announced a $12.5 million seed round led by Markd, with participation from Deepwork Capital, Florida Opportunity Fund, Ansay & Associates, HICO Ventures, and JMG Capital.

The round gives Irys fresh capital to expand engineering, accelerate implementation, and scale distribution partnerships across the U.S and Canada. It also underscores a resurgence of investor confidence in insurance infrastructure, coming shortly after Markd’s own $500 million fundraise to back transformative insurtechs.

“For 15 years I ran agencies on tech that didn’t care if it was usable,” said Margeaux Giles, CEO of Irys. “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Irys replaces outdated systems with an AI-native, integration-agnostic operating platform that unifies financials, operations, and sales and client data in real time. The system communicates across tools and between AIs, enabling automation that scales service capacity and profitability without adding staff.

“We’ve seen what simple automation can do,” Giles said. “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.”

Already, Irys supports several top brokerages and MGAs representing close to $1 billion in active written premium, and the company is forming agency cohorts to pilot its frictionless, no-data-migration approach to implementation.

“The market has confirmed- insurance leaders are done stacking third-party tools just to work around outdated systems,” said Parker Beauchamp, Managing Partner at Markd. “Irys isn’t just a new AMS, it’s the whole backbone. It runs CRM, analytics, accounting, tasks, and document management, all in one place. It’s the infrastructure that works.”

The raise comes as insurtech investment rebounds, with global funding up 28% last quarter according to Gallagher Re, and capital flowing toward platforms that deliver real infrastructure change. With its decentralized backend, open APIs, and agentic AI facilitation, Irys is positioning itself as the operational hub for the next generation of insurance enterprises.

“OpenAI and Google are rewriting what’s possible every six weeks,” Giles said. “Insurance can’t afford to be a generation behind. Irys is the bridge between their innovation and our industry.”

With this funding, Irys will expand its engineering and customer success teams, scale distribution partnerships, and roll out new AI-driven modules for accounting, analytics, and submission management in early 2026.