AI Leader mea Secures $50M Investment
mea Platform, the AI-native insurance technology company, announced a $50 million minority growth equity investment from SEP, a leading investor in enterprise technology companies.
A spokesperson said, “Since formation in 2021, mea has consistently driven the market for AI applied to the insurance industry. Demand is accelerating for mea’s products that rapidly improve combined ratios and strengthen margins.
“Intentionally bootstrapped to date, mea is now in its fourth consecutive year of profitable growth. The investment from SEP enables mea to accelerate product development and customer engagement as the company continues its expansion, announced last October, across all [re]insurance operations.
“mea deploys proprietary, insurance-specific AI products to automate end-to-end operations for carriers, brokers, and MGAs. Because the company’s products are pre-trained in the language and specificity of insurance requirements, customer deployments are fast and integration is non-invasive. The company has live client deployments across 21 countries with more than $400 billion of gross written premium processed through the platform. Customers and partners include AXIS, CNA, The Hartford, Markel, SCOR, Ardonagh, Lloyd’s of London, PPL, Accenture, DXC, ServiceNow, Velonetic, and Verisk, amongst others.
“Despite sustained industry investment in technology, many insurance processes are still highly manual and resource intensive. Operating costs account for up to 14 points of the combined ratio for carriers and nearly half of total expenses for brokers, representing approximately $2 trillion in annual industry costs. mea’s agentic AI products orchestrate operations process automation that delivers significant GWP and margin gains with up to 60 percent reductions in operating costs.
“Built by former insurance industry leaders, mea combines deep sector-specific expertise with technology proven at global scale to deliver market-leading accuracy. This foundation has enabled mea’s expansion from its submission ingestion product into end-to-end operations, with rapid deployment and measurable return on investment for customers.”
Martin Henley, Founder and CEO of mea, said: “SEP brings deep experience in scaling enterprise technology businesses, and we are excited to partner with them as we grow mea with the same discipline and focus that has brought us to this point. We saw significant inbound interest from potential investors and chose SEP for their long-term perspective, collaborative style, and the strategic support they will provide as we enter our next phase of growth.
“Our opportunity to improve client combined ratios and margin is built on years of developing and deploying insurance-specific AI at global scale. As the industry moves from AI experimentation to production, customers increasingly recognize the value of domain-specific technology that delivers results immediately.”
Angus Conroy, Managing Partner of SEP, said: “mea is an excellent fit with our strategy of backing IP-rich technology companies that solve complex problems for the world’s largest organizations. mea has built a highly differentiated, production-grade platform with clear return on investment for global insurance groups. Strong customer adoption, growth, and capital efficiency reflect both the quality of the technology and the team’s deep insurance expertise. In a dynamic market, mea stands out for what is live, proven, and scaled today. We are excited to partner with Martin and the mea team as they continue to scale the business.”
