Pace, the AI operations partner for the world’s largest insurers, has raised $46 million Series B, co-led by Thrive Capital and Sequoia Capital, with participation from Emergence Capital and Pruven Capital.
According to the announcement, Pace will use this capital to help its customers scale their agentic workforce to tens of millions of operations tasks this year across the US, Europe and globally.
“At Pace, we are on a mission to insure more of the world’s risk,” said Jamie Cuffe, founder and CEO of Pace. “Closing the $9 trillion protection gap starts with AI-native operations and Pace agents are purpose built for that work.”
Pace’s technology is used by a number of brokers and public insurers, including WTW, Prudential, Newfront, and The Mutual Group.
Since its launch last year, Pace’s AI agents have autonomously completed more than a quarter of a million essential insurance workflows for leading industry firms.
Philip Clark, partner at Thrive Capital, commented: “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.”
At Prudential, Pace automates thousands of hours of manual work across policy servicing and issuance for customer acquisition.
In partnership with Ryze Claim Solutions, Pace resolves claim cycle times 30% faster, and at Convex US, AI agents speed up data ingestion for new business and renewals.
Terry Garrett, Head of Strategy and Operators, Risk & Brokering at WTW, said: “We’re delighted to be partnering with Pace. Our collaboration brings together shared ambition, complementary strengths, and a real commitment to doing things better – for our clients, colleagues, and the wider industry. This partnership will make a meaningful difference to our business model over the long term.”
