Pace, an AI operations partner for insurers, has raised $46m in a Series B funding round co-led by Thrive Capital and Sequoia Capital, with Emergence Capital and Pruven Capital also participating.
The round will fund an expansion of Pace’s agentic workforce capabilities, targeting tens of millions of operations tasks across the US, Europe and further international markets this year.
Pace counts several publicly known insurers and brokers among its partners, including The Mutual Group, Newfront, Prudential and WTW. Since its launch last year, the company’s AI agents have autonomously handled more than 250,000 critical insurance workflows.
At Prudential, the platform automates significant volumes of manual work across policy servicing and issuance for customer acquisition. Working alongside Ryze Claim Solutions, Pace has cut claim cycle times by 30%, while at Convex US its agents accelerate data ingestion for new business and renewals.
Pace’s platform is built around AI agents that navigate internal applications, reason across documents and conduct phone calls to handle back-office tasks. Core use cases include submission intake, policy servicing, claims handling and data entry, all aimed at mission-critical insurance operations.
Pace founder and CEO Jamie Cuffe said, “At Pace, we are on a mission to insure more of the world’s risk. Closing the $9 trillion protection gap starts with AI-native operations and Pace agents are purpose built for that work.”
Thrive Capital partner Philip Clark said, “At Thrive, there are two things that really matter to us when investing in a company: ideas whose time has come and people who are really well matched to the problems they’re working on.
“We are in this really special moment where the most important high value parts of the knowledge economy are being augmented and automated to a significant degree by these models and Jamie is one of those people where you go in biased to saying yes.”
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