A co-founder at FinTech unicorn Zilch has raises £15 million for his latest venture ManageMy.
Sean O’Connor has teamed up with former ReMark Group CEO Stephen Collins to launch the InsurTech business, which was founded in the UK but is now based in the United States and has a presence in London.
It has now raised a Series B round of funding led by Ventura Capital, taking its total funding to $45m following a 2022 Series A.
O’Connor’s involvement was coordinated through his investment operator vehicle OCVC, alongside a team of insurance, technology, and data specialists with deep experience across carriers, reinsurers and distribution.
ManageMy CEO Collins formerly held top positions in the insurance industry including as CEO of ReMark Group and global head of distribution at SCOR.
The company partners with major insurers and broker groups across North America and other international markets, helping them modernise customer engagement and decision-making at scale. It aims to transform how insurers sell, service, underwrite and manage policies.
Ventura is joined in the round by OCVC, with backing from BNF and a consortium of strategic traditional insurance and InsurTech Leaders.
“When we co-found a business, we do so with tier one operating co-founders, like Stephen Collins, who, along with the team he has built, have deep domain expertise in insurance and the application of technology within the industry,” said O’Connor.
“Insurance is a fundamental financial inclusion product, designed for social good. ManageMy is the intelligent application of increasingly critical digital infrastructure into the incumbent insurers and brokers, which enables transformation of the operating model and creates new value for insurers, brokers and consumers.
“This also makes it increasingly economically viable to open up insurance to the millions who are uninsured or underinsured.”
Collins said: “This funding marks a major milestone for ManageMy and validates our vision of a more intelligent, integrated, and adaptable insurance operating model. From the outset, we built ManageMy as a scalable, enterprise-grade platform capable of compounding value as insurers grow and modernise.
“This investment enables us to accelerate product depth, expand distribution, and convert strong client adoption into even more durable, high-quality recurring revenue. ManageMy is now uniquely positioned to become a long-term infrastructure partner to the global insurance industry.
“Insurers are under growing pressure to improve speed, accuracy, and customer experience while increasing sales and reducing costs. Our platform is purpose-built to address those challenges – delivering AI-enabled decisioning and orchestration across the entire Buy-Manage-Claim lifecycle.”
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Ventura operates an unusual model, offering investments to its clients on a deal-by-deal basis, charging carried interest but no annual management fee.
Since inception in 2012, this approach has generated a realised gross IRR of 61%, placing Ventura among the UK’s highest-performing investment firms.
“ManageMy has built something of massive strategic value to the insurance industry,” said Mo El Husseiny, managing partner at Ventura Capital. “Their combined application of intelligence and automation into insurers and brokers environments unlocks value at scale.
“The insurance industry has struggled to modernise its business models compared to the financial services market. ManageMy is at the forefront of digitally transforming the insurance sector, one of the world’s largest and most lucrative markets.
“We are delighted to continue partnering with Sean O’Connor across his ventures and with the team at ManageMy.”
He added: “Of the companies in our portfolio, this is one that attracts significant inbound interest, even though our multiple ManageMy fundraisings to date have been in stealth mode.”
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