Pasito, an InsurTech company focused on AI-native workflows for group health, life and retirement benefits, has raised $21m in new funding to accelerate automation across the benefits ecosystem.
The New York-based firm secured the Series A round led by global software investor Insight Partners, with participation from Y Combinator and insurance-focused MTech Capital, according to Beinsure.
Founded to address long-standing inefficiencies in insurance and employee benefits administration, Pasito is building an AI-native workspace designed to replace manual, error-prone processes. Its platform supports carriers, brokers, financial institutions and employers by unifying fragmented workflows into a single operating environment.
At the core of Pasito’s technology is an agentic AI infrastructure that converts unstructured benefits plans and employee census data into a unified data layer.
This enables automated plan construction and supports end-to-end workflows across sales, quoting, marketing, enrolment, customer support and claims. The company says its AI agents achieve 98% accuracy in plan construction, compared with an industry average of 74%, reducing hundreds of hours of manual work per group.
The newly raised capital will be used to scale Pasito’s engineering efforts, expand automation into additional product lines and workflows, and grow its forward-deployed teams.
These teams work directly with carriers, brokers and employers to automate complex, high-value workflows using AI. The funding will also support sales and marketing expansion to meet increasing enterprise demand across the benefits market.
Pasito has reported strong commercial momentum over the past year, scaling annual recurring revenue 50x and expanding deployments across thousands of employers.
Its customer base includes insurers such as Reliance Matrix and New York Life, alongside consulting firms OneDigital and Daybright Financial, as well as retirement advisers and recordkeepers. The company says it is becoming a foundational operating platform for some of the largest carriers and brokerages in the US.
Over time, Pasito plans to enable clients to build proprietary AI agents within its workspace, launch fully white-labelled experiences and extend automation across the entire benefits lifecycle, from initial quoting through to claims management.
Pasito CEO Pauline Roteta said, “Carriers and brokers are buried in operational debt, and employees pay the price through higher costs and fragmented, confusing experiences. Pasito replaces that broken infrastructure with a centralised AI workspace and agents that automate the hardest work—accurately, transparently, and at scale.”
Insight Partners vice president Alexandra Lundin said, “Pasito is doing for insurance and group benefits what AI-first companies have done for the legal industry. They’ve built an AI-native workspace that re-architects how work gets done in an industry that urgently needs modernisation. We look forward to partnering with them in this next chapter.”
MTech Capital partner Brian McLoughlin said, “Pauline and her team are applying AI to automate what has forever been a manual, error-prone process done by insurers and brokers: Producing employee benefits product information and configuring processes — from quoting to claims — for companies’ benefits workflows. We’re excited to be part of their team.”
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