About Open
Open is a company based in Sydney (Australia) founded in 2016. It operates as a InsurTech and White Labeling / Private Label. Open has raised $34.1 million across 2 funding rounds from investors including Movac and AirTree. Open has completed 1 acquisition, including So-Sure. Open offers products and services including Car Insurance, Home Insurance, Travel Insurance, Landlords Insurance, and Tech Cover. Open operates in a competitive market with competitors including Zopper, Bolttech, Qover, Cover Genius and Lami, among others.
- Headquarter Sydney, Australia
- Stage Minicorn
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Sectors
Financial Services
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Phone
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Website
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Social
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- Legal Name Open Insurance Technologies Pty Ltd
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Products & Services of Open
Open offers a comprehensive portfolio of products and services, including Car Insurance, Home Insurance, Travel Insurance, Landlords Insurance, and Tech Cover.
Car insurance is provided for vehicle protection needs.
Home insurance is offered for property protection solutions.
Travel insurance is designed for trip safety coverage.
Landlords insurance is tailored for rental property security.
Tech cover is provided for electronic device protection.
People of Open
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Funding Insights of Open
Open has successfully raised a total of $34.1M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $31 million completed in August 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
Investors in Open
Open has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include Movac and AirTree.
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Venture capital is provided to technology businesses by Movac.
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Investments are directed toward early-stage tech startups by AirTree.
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Investor details for Open
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Investments & Acquisitions by Open
Open has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include So-Sure.
Investment portfolio details for Open
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Insurance solutions for individuals are provided via an online platform.
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Complete acquisition details for Open
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Financial Statements - Open
Detailed financials for Open
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Open Comparisons
Peer comparison for Open
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Competitors of Open
Open operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Zopper, Bolttech, Qover, Cover Genius and Lami, among others.
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API-enabled insurance distribution platform is provided for B2C companies.
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Insurance solutions are connected for businesses and individuals through partnerships.
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Software suite for designing and distributing digital insurance is offered.
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Software suite for insurance distribution and management is provided.
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A software suite is provided for insurers and underwriters.
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Detailed competitors of Open
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Latest news on Open
Complete news archive for Open
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Frequently Asked Questions about Open
Open was founded in 2016 and raised its 1st funding round 4 years after it was founded.
Open is headquartered in Sydney, Australia. It is registered at Sydney, New South Wales, Australia.
Open is a funded company, having raised a total of $34.1M across 2 funding rounds to date.
Embedded insurance programs are developed by Open for large brands in the UK, Australia, and New Zealand. Digital-first insurance solutions are offered, covering car, home, travel, landlords, and tech cover. End-to-end services are provided, including acquisition, sales, payments, claims, and analytics, powered by flexible technology. Unique data and marketing services are delivered through OpenIntel, utilizing AI-enhanced data products and advanced ML dashboards. Risk management and regulatory compliance are ensured with licenses in multiple regions. Partnerships with global underwriters are maintained to design world-class insurance products tailored to modern customer needs.
Open's top competitors include Zopper, Cover Genius and Bolttech.
Open offers Car Insurance, Home Insurance, Travel Insurance, Landlords Insurance, and Tech Cover.
Open has made 1 acquisition, including So-Sure.
The valuation of Open is $100M as of Aug 2021.