VC-backed At-Bay acquires VC-backed Relay Platform

Toronto-based Relay Platform is a technology solutions provider for commercial insurance placements.

  • Relay Platform, founded in 2019, will continue to serve as an independent entity
  • At-Bay’s backers include Acrew Capital, Glilot Capital, the HSB fund of Munich Re Ventures, Icon Ventures, ION Crossover Partners, Khosla Ventures and Lightspeed Venture Partners

San Francisco-based At-Bay has acquired Toronto-based Relay Platform, a technology solutions provider for commercial insurance placements. No financial terms were disclosed.

Relay will continue to serve a growing list of brokers and partners as an independent entity, under its own management team.

“Brokers are hungry for better service and streamlined workflows from their partners, which technology can transform. Far too often, they are held back by outdated processes and systems,” said Rotem Iram, co-founder and CEO of At-Bay, in a statement. “Relay has built an innovative digital marketplace, tailored to the needs of brokers. By enabling it to focus all its efforts on serving brokers and their key partners, we believe it will deliver maximum benefit to the ecosystem and create the go-to marketplace for brokers in SMB specialty insurance.”

Founded in 2019, Relay has built a broker-friendly and dynamic digital placement solution for multiple specialty commercial lines, with a focus on cyber. Annual recurring premiums transacted on the platform grew 7x over the past six months, with cyber submissions growing 10x in the past year.

Relay’s investors have included Drive Capital, Highline Beta and NFP Ventures.

At-Bay is a digital insurance provider. It is backed by Acrew Capital, Glilot Capital, the HSB fund of Munich Re Ventures, Icon Ventures, ION Crossover Partners, Khosla Ventures, Lightspeed Venture Partners, M12, entrepreneur Shlomo Kramer, and Qumra Capital.