Irys Raises 12.5 Million to Rebuild Insurance Infrastructure

The funding will allow Irys to expand its engineering team, accelerate implementation, and scale distribution partnerships across the United States and Canada. The round also demonstrates renewed investor confidence in insurance infrastructure following Markd’s recent 500 million dollar fundraise to support transformative insurtech ventures.

“For 15 years I ran agencies on technology that did not care if it was usable,” said Margeaux Giles, Chief Executive Officer of Irys. “The industry has been trapped in contracts, broken platforms, and empty promises. It has eroded the trust agents work so hard to build 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Irys replaces outdated systems with an AI-native, integration-agnostic operating platform that unifies financials, operations, sales, and client data in real time. The system communicates across tools and between AI agents allowing automation that scales service capacity and profitability without adding staff.

“We have seen what simple automation can do,” Giles added. “If basic AI can double a service representative’s book from two hundred thousand to five hundred thousand dollars, imagine what agentic AI can do for an organization that can actually implement it.”

Irys already supports several leading brokerages and managing general agents representing nearly one billion dollars in active written premium. The company is forming agency cohorts to pilot its frictionless implementation model which requires no traditional data migration.

“The market has made it clear that insurance leaders are done stacking third-party tools just to work around outdated systems,” said Parker Beauchamp, Managing Partner at Markd. “Irys is not just a new agency management system. It is the entire backbone. It runs customer relationship management, analytics, accounting, tasks, and document management in one unified platform. It is the infrastructure that works.”

The funding comes amid a resurgence in insurtech investment with global funding up twenty-eight percent last quarter according to Gallagher Re. Capital is increasingly flowing toward platforms that deliver genuine infrastructure transformation. With its decentralized backend, open application programming interfaces, and agentic AI foundation, Irys is positioning itself as the operational hub for the next generation of insurance enterprises.

“OpenAI and Google are redefining what is possible every few weeks,” Giles said. “Insurance cannot afford to fall a generation behind. Irys is the bridge between their innovation and our industry.”

With this funding, Irys will continue expanding its engineering and customer success teams, deepen distribution partnerships, and launch new AI-driven modules for accounting, analytics, and submission management in early 2026.