Elysian, an AI-native third-party administrator for commercial insurance, has secured $6m in a seed round led by Portage, with participation from American Family Ventures and TenOneTen Ventures.
The new funding will support go-to-market expansion, customer onboarding, and scaling of the company’s delivery operations and technology platform.
Elysian provides two main services: end-to-end claims handling and Dynamic Claim Review, a system offering expert-led portfolio analysis faster than traditional audits. Its AI surfaces coverage and liability insights, drafts tailored communications and leaves adjusters to focus on the most critical decisions.
Elysian founder and CEO Grace Hanson said, “We built Elysian by rethinking claims handling from the ground up – designing a hybrid intelligence system where AI manages the ‘messy middle’ and adjusters can focus on the human parts. Our approach is shaped by firsthand industry insight and designed to raise the standard for modern claims services.”
Portage general partner Ricky Lai said, “Elysian is bringing purpose-built innovation to the core of commercial claims operations. Their platform provides adjusters with the tools to deliver better outcomes, and we’re excited to support the team in their next phase of growth.”
TenOneTen partner Minnie Ingersoll said, “Digital TPAs have long been the goal, but delivering this product wasn’t possible before modern AI. Elysian stood out to us by tackling complexity from the outset and building systems that reflect how adjusters work.”
American Family Ventures managing director Kyle Beatty said, “We strongly believe the full category of claims administration will be transformed by modern software, predictive modeling, and generative AI. We are excited to support Elysian as they modernise one of the most challenging and highest value segments of commercial claims.”
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