Cota Capital has led a $10 million Series A investment in Layr, an innovative insurance platform optimizing small business insurance processes.

Target Information

Layr is an innovative insurance platform designed specifically to address the needs of small businesses. Founded by Phillip Naples, who has extensive experience in commercial insurance, Layr aims to streamline the complexities associated with insurance processes for both brokers and small business owners. The platform facilitates brokers in managing a significantly larger client base while improving profitability by automating manual workflows and enhancing the insurance service experience.

Industry Overview

The insurance industry, one of the oldest sectors globally, plays a critical role in the U.S. economy, contributing substantially to the GDP. Although technological advancements have transformed various sectors in recent years, the insurance industry remains a slower adopter of such innovations. Many traditional distribution, underwriting, and customer service methods continue to utilize outdated technologies. This presents a substantial market opportunity for organizations looking to modernize and optimize the insurance value chain.

In particular, small business insurance represents a significant yet underserved market with annual premiums exceeding $110 billion. Historically, acquiring and servicing this segment profitably has proven challenging for insurance provi