Irys, the company rebuilding insurance infrastructure from the ground up, announced a $12.5 million seed round led by Markd, with participation from Deepwork Capital, Florida Opportunity Fund, Ansay & Associates, HICO Ventures, and JMG Capital.

The round gives Irys fresh capital to expand engineering, accelerate implementation, and scale distribution partnerships across the U.S and Canada. It also underscores a resurgence of investor confidence in insurance infrastructure, coming shortly after Markd's own $500 million fundraise to back transformative insurtechs.