Pace Raises $46M Series B Led by Thrive and Sequoia to Scale Agentic Insurtech Operations
On May 27, 2026, Pace, an AI operations partner for insurance carriers and brokers, closed a $46 million Series B funding round co-led by Thrive Capital and Sequoia Capital. The round also saw participation from Emergence Capital and Pruven Capital, indicating heavy venture conviction in the automation of mission-critical insurance back-office functions.
Pace provides specialized AI agents designed to automate labor-intensive, document-heavy insurance workflows, including submission intake, policy servicing, claims handling, and data entry. Its agents are capable of navigating legacy internal applications, reading unstructured documents, and even making phone calls to resolve operational tasks autonomously. Since launching in 2025, Pace's agents have processed over 250,000 critical insurance workflows.
Key Deployments and Partnerships
- Prudential: Pace’s platform is deployed to automate high-volume manual work across policy servicing and issuance to accelerate customer acquisition.
- Ryze Claim Solutions: The integration of Pace's AI agents has successfully cut claim cycle times by 30%.
- Convex US: Pace agents are used to accelerate data ingestion for new business and insurance renewals.
- Other Partners: Pace counts major industry players like The Mutual Group, Newfront, and WTW among its active partners.
Strategic Significance
The insurance sector represents one of the largest and most document-dense "fee pools" in the global economy, yet it has historically been bottlenecked by legacy software and manual data entry. Pace's model demonstrates that the next frontier of insurance technology is not just digital portals or simple chatbots, but autonomous agentic workforces that compress multi-week operational processes into days or hours.