Y Combinator grad and AI insurance brokerage Harper raises $47M

Dakotah Rice is stepping backmost into the founder’s seat. On Wednesday, helium announced that his caller company, the AI-native security brokerage Harper, has raised $46.8M cardinal successful a combined Series A and effect round.

Previously, helium founded the concern institution Poolit, which closed successful 2023. He spoke openly to TechCrunch astir the illness of that company, saying helium ne'er figured retired however to marque it profitable.

“My ego made it hard to judge the failure,” helium told TechCrunch. “In hindsight, I should person unopen it down a twelvemonth earlier.” 

For his adjacent company, helium went backmost to his roots. His household owned an security brokerage, and helium remembered each the hassles that came erstwhile founders similar himself walked done the doors, trying to insure their businesses. “I hated insurance,” helium continued, “swore I’d ne'er extremity up successful it.”

But past helium had an idea. At first, helium and Tushar Nair, a longtime person and erstwhile CTO of Poolit, thought astir gathering AI tools for existing brokerages. Then, they decided to conscionable usage that exertion to physique an AI-native security brokerage and call it Harper, aft Rice’s mother’s maiden name. 

Launched successful 2024, Harper is portion of a inclination YC precocious wrote astir (Harper took portion successful the YC W’25 batch). The YC blog wrote that the future of agencies “will look much similar bundle companies, with bundle margins.” That’s precisely what Harper is — an astir afloat autonomous licensed commercialized security agency. It matches small- to mid-sized businesses with much than 160 security carriers to assistance with workers’ compensation, arsenic good arsenic wide and nonrecreational liability. 

“What often takes a accepted broker 5 to 7 days, we tin often bash successful 1 to two,” Rice, the company’s CEO, said. He said a emblematic income squad astatine a human-led brokerage handles 20 to 30 deals a month, but AI enables Harper to grip much than 1,000 customers a month. Harper has much than 5,000 customers to date, helium continued. 

“AI handles the operational weight. Submission routing, underwriter follow-ups, papers collection, pipeline management,” Rice continued. 

Investors successful the institution see YC and Peak XV Partners, and its effect and Series A rounds were led by Emergence Capital. Harper has raised $54 cardinal successful backing to date, nabbing that magnitude successful conscionable nether 2 months, Rice said. 

Rice thinks of astir each brokerages arsenic Harper’s competition. He said that enactment remains precise fragmented, with large players and everyone other moving connected “email and spreadsheets.” There are, of course, different AI-native brokerages successful this space, like Gyde, arsenic good arsenic companies that usage AI tools, similar FurtherAI oregon Vantel (both of which are besides YC alums). 

Rice said what makes Harper antithetic is that it hopes to people mediate America. “The real-world businesses,” helium said, “like daycares, manufacturers, car dealerships, section bars and restaurants.” 

The caller backing volition beryllium utilized to physique retired Harper’s engineering squad and assistance turn the brand. The 2nd clip successful the game, helium has large dreams for this company. 

“We privation to go the dependable for entrepreneurs, starting with their insurance, but implicit clip becoming a focal constituent for each types of things related to risk, compliance, and their full backmost office,” helium said. “We privation to marque it elemental for them to bash their halfway work, and we fundamentally bash everything other implicit time.”