In a significant move for the insurance technology sector, AI-native firm mea Platform has announced a $50 million minority growth equity investment from SEP. This strategic funding is set to accelerate product development and customer engagement as the company expands its global operations. The investment marks a major milestone for mea, which has been bootstrapped and profitable since its inception in 2021.
A Strategic Partnership for Growth
Martin Henley, Founder and CEO of mea, highlighted SEP’s deep experience in scaling enterprise technology businesses as a key factor in the partnership. He noted that after receiving significant inbound interest from investors, SEP was selected for its long-term perspective and collaborative style. This alliance will provide the strategic support necessary for mea to navigate its next phase of disciplined growth.
Angus Conroy, Managing Partner of SEP, stated that mea is an excellent fit for the firm's strategy of backing IP-rich companies solving complex problems. He praised mea for building a highly differentiated, production-grade platform that offers a clear return on investment for global insurance groups. Conroy emphasized that mea’s proven and scaled technology makes it a standout in a dynamic market.
Tackling Industry Inefficiencies with AI
Despite sustained investment in technology, many insurance processes remain highly manual and resource-intensive, impacting profitability. Operating costs can account for up to 14 points of the combined ratio for carriers and nearly half of total expenses for brokers. These inefficiencies represent approximately $2 trillion in annual industry costs, creating a substantial opportunity for automation.
mea directly addresses these challenges with its proprietary, insurance-specific AI products that automate end-to-end operations. The company’s agentic AI orchestrates process automation, delivering significant gains in gross written premium and stronger margins for its clients. By leveraging mea's platform, organizations can achieve reductions in operating costs of up to 60 percent.
Proven Technology at Global Scale
Founded by former insurance industry leaders, mea combines deep sector expertise with technology proven at a global scale. The company has achieved four consecutive years of profitable growth without external funding, a testament to its robust business model. This financial discipline has enabled its expansion from an initial submission ingestion product to a comprehensive end-to-end operations platform.
The platform is already live with clients in 21 countries and has processed more than $400 billion in gross written premium. Because its AI products are pre-trained in the specific language of insurance, customer deployments are fast and integration is non-invasive. Its impressive client roster includes industry leaders such as AXIS, CNA, Markel, SCOR, and Lloyd’s of London.
This $50 million investment from SEP is a powerful validation of mea's market-leading technology and sustainable growth strategy. The new capital will empower the company to enhance its AI solutions and solidify its position as a key innovator in the InsurTech space. As the insurance industry transitions from AI experimentation to full-scale production, mea is poised to lead the transformation toward greater efficiency.