Pace raises $46 million
Pace, a NY-based AI company for insurance, announced its $46 million Series B, co-led by Thrive Capital and Sequoia Capital, with participation from Emergence Capital and Pruven Capital.
Founded in 2024 and launched in 2025, Pace offers AI agents that can navigate internal apps, reason across documents and make phone calls to automate tasks traditionally handled by business process outsourcers.
Pace partners with several public insurers and brokers including The Mutual Group, Newfront, Prudential, and WTW. Since launching last year, Pace has autonomously completed “more than a quarter of a million critical insurance workflows” with AI agents. At Prudential, Pace automates “thousands of hours of manual work” across policy servicing and issuance for customer acquisition. In partnership with Ryze Claim Solutions, Pace resolves claim cycle times 30% faster, and at Convex US, AI agents speed up data ingestion for new business and renewals.
Pace will use this capital to help its customers scale their agentic workforce to “tens of millions of operations tasks” this year across the US, Europe and now globally.
“At Pace, we are on a mission to insure more of the world’s risk. Closing the $9 trillion protection gap starts with AI-native operations and Pace agents are purpose built for that work.” – Jamie Cuffe, founder and CEO of Pace.
“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. 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.” – Philip Clark, partner at Thrive Capital.
“We’re delighted to be partnering with Pace. 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.” – Terry Garrett, Head of Strategy and Operators, Risk & Brokering at WTW.
