Pace Raises $46M in Series B Funding Led by Thrive Capital

The round also saw participation from Emergence Capital and Pruven Capital.

The company plans to use the funds to expand its operations across the U.S., Europe, and other global markets.

Pace works with public insurers and brokers to deliver its technology, including partners such as The Mutual Group, Newfront, Prudential, and WTW. Since launching last year, the company has used AI agents to automatically complete more than 250,000 important insurance workflows for leading insurers worldwide.

At Prudential, Pace automates a large amount of manual work in policy servicing and issuing new policies for customer acquisition. In partnership with Ryze Claim Solutions, Pace helps reduce claim processing times by 30%. At Convex in the U.S., its AI agents also speed up data processing for new business and policy renewals.

“We’re delighted to be partnering with Pace,” said Terry Garrett, Head of Strategy and Operators, Risk & Brokering at WTW. “Our collaboration brings together shared ambition, complementary strengths, and a real commitment to doing things better - for our clients, colleagues, and the wider industry. This partnership will make a meaningful difference to our business model over the long term.”

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“At Thrive, there are two things that really matter to us when investing in a company: ideas whose time has come and people who are really well matched to the problems they’re working on,” said Philip Clark, partner at Thrive Capital. “We are in this really special moment where the most important high value parts of the knowledge economy are being augmented and automated to a significant degree by these models and Jamie is one of those people where you go in biased to saying yes.”

“At Pace, we are on a mission to insure more of the world’s risk,” said Jamie Cuffe, founder and CEO of Pace. “Closing the $9 trillion protection gap starts with AI-native operations and Pace agents are purpose built for that work.”

About Pace

Founded by Jamie Cuffe, Pace is an AI operations platform for leading insurance companies. Its AI agents can work across internal systems, understand documents, and even make phone calls to automate back-office tasks. The company helps insurers manage key operations such as submission intake, policy servicing, claims processing and data entry.

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