mea Platform, an AI-native insurance technology company, has secured a $50 million minority growth equity investment from SEP, a growth equity firm focused on enterprise technology companies.
Founded in 2021, mea has positioned itself as a specialist in applying artificial intelligence to the insurance industry, with a focus on improving combined ratios and strengthening margins. The company has been intentionally bootstrapped since its inception and is now in its fourth consecutive year of profitable growth.
The new capital will be used to accelerate product development and expand customer engagement as mea continues its previously announced expansion across all (re)insurance operations.
mea develops proprietary, insurance-specific AI products designed to automate end-to-end operations for carriers, brokers, and managing general agents. Its products are pre-trained on insurance-specific language and requirements, enabling rapid deployment and non-invasive integration with existing systems.
The company currently has live client deployments across 21 countries and processes more than $400 billion in gross written premium through its platform. Customers and partners include AXIS Capital, CNA Financial, The Hartford, Markel, SCOR, Ardonagh Group, Lloyd’s of London, Accenture, DXC Technology, ServiceNow, Verisk, and others.
Despite continued investment in technology across the sector, many insurance processes remain manual and resource-intensive. Operating costs can account for up to 14 points of the combined ratio for carriers and nearly half of total expenses for brokers, contributing to approximately $2 trillion in annual industry costs. mea says its agentic AI products orchestrate process automation that can deliver significant gross written premium and margin gains, with operating cost reductions of up to 60 percent.
The company was built by former insurance industry leaders and combines sector-specific expertise with technology designed for global-scale deployment. It initially focused on submission ingestion and has since expanded into broader end-to-end operational automation, aiming to provide measurable return on investment through rapid deployment.
SEP, which has invested more than $1 billion over a 25-year track record, focuses on backing enterprise technology companies with global ambitions. The firm said mea aligns with its strategy of supporting IP-rich technology platforms addressing complex challenges for large organizations.
KEY QUOTES:
“SEP brings deep experience in scaling enterprise technology businesses, and we are excited to partner with them as we grow mea with the same discipline and focus that has brought us to this point. We saw significant inbound interest from potential investors and chose SEP for their long-term perspective, collaborative style, and the strategic support they will provide as we enter our next phase of growth. Our opportunity to improve client combined ratios and margin is built on years of developing and deploying insurance-specific AI at global scale. As the industry moves from AI experimentation to production, customers increasingly recognize the value of domain-specific technology that delivers results immediately.”
Martin Henley, Founder and CEO, mea Platform
“mea is an excellent fit with our strategy of backing IP-rich technology companies that solve complex problems for the world’s largest organizations. mea has built a highly differentiated, production-grade platform with clear return on investment for global insurance groups. Strong customer adoption, growth, and capital efficiency reflect both the quality of the technology and the team’s deep insurance expertise. In a dynamic market, mea stands out for what is live, proven, and scaled today. We are excited to partner with Martin and the mea team as they continue to scale the business.”
Angus Conroy, Managing Partner, SEP
