Elysian, an AI-native third-party administrator for commercial insurance claims, has closed a $6m seed funding round.
The round was led by Portage, with additional participation from American Family Ventures and TenOneTen Ventures.
The company, founded by Grace Hanson, a former lawyer and veteran claims executive who previously held senior roles at Allied World, Homesite Insurance, Hiscox and Hippo Insurance, focuses on reshaping commercial claims handling.
By combining artificial intelligence with human expertise, Elysian aims to streamline complex processes and improve outcomes in high-stakes claims environments.
Funding from the seed round will be used to accelerate the company’s go-to-market strategy, strengthen customer onboarding and expand its technology platform and delivery operations.
Elysian’s technology offers two primary services: end-to-end claims handling and a Dynamic Claim Review function. The latter delivers expert-led analysis across claims portfolios, enabling faster and more comprehensive reviews compared to traditional auditing methods. Its proprietary AI tools are designed to complement adjusters’ work by surfacing insights, suggesting tailored communications and leaving professionals to focus on the most critical decisions.
The company said its long-term vision is to modernise commercial claims services by applying advanced AI tools to complex cases that traditional TPAs and tech-enabled vendors often avoid.
Elysian founder and CEO Grace Hanson said, “We built Elysian by rethinking claims handling from the ground up – designing a hybrid intelligence system where AI manages the ‘messy middle’ and adjusters can focus on the human parts. Our approach is shaped by firsthand industry insight and designed to raise the standard for modern claims services.”
Portage general partner Ricky Lai said, “Elysian is bringing purpose-built innovation to the core of commercial claims operations. Their platform provides adjusters with the tools to deliver better outcomes, and we’re excited to support the team in their next phase of growth.”
TenOneTen partner Minnie Ingersoll said, “Digital TPAs have long been the goal, but delivering this product wasn’t possible before modern AI. Elysian stood out to us by tackling complexity from the outset and building systems that reflect how adjusters work.”
American Family Ventures managing director Kyle Beatty said, “We strongly believe the full category of claims administration will be transformed by modern software, predictive modeling, and generative AI. We are excited to support Elysian as they modernize one of the most challenging and highest value segments of commercial claims.”
Note: No previous funding rounds were mentioned in the original release.
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