Elysian, a company focused on modernizing the way commercial insurance claims are handled, has announced a $6 million seed funding round. The funding was led by Portage, with additional support from American Family Ventures and TenOneTen Ventures. This funding will help Elysian expand its operations, onboard new customers, and further develop its technology platform.
Founded by Grace Hanson, a seasoned insurance executive and former Chief Claims Officer at several major firms, Elysian was created to tackle the complexity of commercial claims. Grace’s background in both law and insurance gives her a unique perspective on the challenges adjusters face, and she’s using that insight to build tools that make their work more efficient and effective.
Elysian’s platform is designed to work alongside human adjusters, not replace them. It uses artificial intelligence to manage the more tedious and complex parts of the claims process—what the company calls the “messy middle.”
This enables adjusters to focus on the decisions that require human judgment and empathy. The platform offers two primary services: full-service claims handling and a feature called Dynamic Claim Review, which provides expert analysis across entire claims portfolios faster than traditional methods.
The company’s technology surfaces key insights, such as coverage and liability details, and even drafts communications, helping adjusters make better decisions more quickly. It’s built to handle the kinds of nuanced, high-stakes claims that many traditional third-party administrators avoid.
Investors see Elysian as a game-changer in the insurance space. By combining AI with deep industry expertise, the company is setting a new standard for claims services. Its long-term goal is to improve outcomes for both insurers and policyholders by making the claims process more intelligent, responsive, and human-centered.
KEY QUOTES:
“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.”
Grace Hanson, Founder and CEO of Elysian
“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.”
Ricky Lai, General Partner at Portage
“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.”
Minnie Ingersoll, Partner at TenOneTen
“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.”
Kyle Beatty, Managing Director at American Family Ventures
