Liberate, an AI startup that automates insurance operations, has raised $50 million in a round led by Battery Ventures as it aims to expand agent adoption across carriers and agencies around the world.
The all-equity round, which includes participation from new investor Canapi Ventures and previous backers Redpoint Ventures, Eclipse, and Commerce Ventures, values the three-year-old startup at $300 million post-money.
The insurance industry is facing challenges due to rising operating costs, limitations of traditional systems, and increasing customer expectations. In the non-life insurance sector in particular, a recent report from Deloitte predicts that global insurance premium growth will slow through 2026 due to increased competition, weakening rate momentum and new cost pressures, including tariffs. Some carriers have experimented with AI, but fragmented data and inflexible workflows stalled many early efforts. This is now changing as insurance companies move towards full-scale AI adoption, embedding AI into the core of their operations rather than layering them on top. Liberate is tackling this change head-on.
Founded in 2022, the San Francisco-based startup builds AI systems for property and casualty insurance companies with a focus on sales, service, and claims. On the front end, Nicole, a voice AI assistant, handles incoming and outgoing calls and helps sell insurance policies and respond to service requests. Behind the scenes, a network of inference-based AI agents connects to the insurance company’s existing systems, gathers context, and generates the responses provided by Nicole. All without human intervention.
Liberate’s AI agents are built to complete end-to-end tasks, not just answer queries and escalate tickets. These include day-to-day functions such as quoting policies, processing claims, and renewing authorizations.
Agents can also operate via SMS and email, allowing insurers to interact with customers across different channels while further automating daily workflows.
“Insurance companies want to grow, but they aren’t able to,” Liberate co-founder and CEO Amrish Singh (pictured above, center) said in an interview. “The current situation is an opportunity.”
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Singh co-founded Liberate after nearly four years at Lemonade-owned auto insurance company Metromile, where he worked in both back-office operations and technology. He teamed up with Ryan Eldridge, Liberate’s vice president of engineering and a former Metromile executive, and Jason St. Pierre, the company’s CPO who has held positions at Twitter, Google, and Alphabet’s life science division Verily.
Singh told TechCrunch that Liberate’s AI system has increased sales by an average of 15% and reduced costs by 23%, adding that the startup currently has more than 60 customers and is focused on the top 100 insurers and agents, which together represent 70% to 80% of the U.S. property and casualty insurance market.
The technology uses reinforcement learning tailored for long-running, regulated insurance conversations. Each interaction is auditable and includes human safeguards to meet compliance requirements, the startup said.
Over the past year, Liberate has scaled from 10,000 automations to 1.3 million automated resolutions per month, Singh said. These include direct customer interactions via voice AI and back-office tasks handled by AI agents integrated into carriers’ core systems.
Because AI systems can still make mistakes and are not completely secure yet, Liberate uses an internal tool called Supervisor to monitor all interactions between agents and customers. Singh said the software will flag problems or anomalies and escalate to humans if the AI’s response may be going off track.
“The benefit of only serving one industry and three specific use cases within that is that you can put more guardrails in place,” the executive said.
Liberate declined to name the customer, but said using the agency reduced response time for hurricane claims from 30 hours to 30 seconds.
Singh said AI agents enable 24/7 sales operations, allowing customers to purchase insurance late at night or early in the morning, when human agents would normally not be available.
Prior to this round, Liberate raised $15 million in Series A last year. The company’s voice AI-powered omnichannel experience and ability to fully automate tasks by integrating into existing systems were key factors that led investors to back the company at greater scale.
“Mapping the process, modeling it, and making sure all the system connections are in place, well-tested, and well-designed to not only communicate but get the task done is what we do at Liberate,” Marcus Ryu, general partner at Battery Ventures, told TechCrunch.
Mr. Ryu previously worked with property and casualty insurance companies at Guidewire Software and focuses on investments in enterprise software, fintech, and insurtech at Battery Ventures. He will join Liberate’s board of directors.
The Series B funding will be used to expand Liberate’s inference capabilities and support broader deployment across insurance companies. The startup has raised $72 million to date and currently employs about 50 people.
