MGT, an AI-driven commercial insurer modernizing property and casualty (P&C) coverage for small businesses, raised $21.6 million in an oversubscribed Series B led by Mubadala Capital, with participation from Clocktower Ventures, Tacora Capital, and others. The funding will fuel R&D, AI innovation, and expansion of its Excess & Surplus (E&S) operations across the U.S. Built as a vertically AI-native insurer, MGT automates the entire insurance lifecycle—from underwriting to policy delivery—making commercial coverage faster, more efficient, and accessible for agents and small businesses.

MGT Raises $21.6M to Modernise Small Business Insurance