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The Venture Codex

Liberty Mutual Strategic Ventures

175 Berkeley Street, Boston, Massachusetts, 02116, United States

Overview

Liberty Mutual Strategic Ventures is a $150M corporate venture fund backed by Liberty Mutual Insurance. We invest in insurtech, fintech, and adjacencies across the future of shelter, mobility, commerce, and insurance innovation. We are focused on property and casualty across personal and commercial lines; we do not invest in life or health startups. We primarily invest in the United States, but will evaluate startups that operate across Liberty Mutual’s global footprint.

Total investments
34
Lead investments
1
Investments · 12mo
3
Active investors
5

Sector focus

  • Financial Services
  • Insurance
  • Venture Capital
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Investment portfolio

  • Antora Energy

    Participated · Series C · Jul 2026

    Antora Energy develops and deploys factory-built thermal batteries that store low-cost electricity as heat in insulated solid-carbon blocks and deliver that energy as heat or power on demand. The company says its systems can store energy for multiple days, avoid supply-constrained critical minerals, and be deployed faster than conventional multi-year projects. Antora recently brought one of the largest battery storage projects online—a 5 gigawatt-hour system in South Dakota that moved from construction to energy delivery in under 12 months—and expanded its San Jose factory into a three-building manufacturing campus. The company reports a growing pipeline of signed agreements with hyperscalers and industrial customers and states its deployments have created and supported hundreds of U.S. manufacturing and construction jobs. With the $550 million Series C, Antora plans to expand production capacity, establish a second U.S. manufacturing hub, and strengthen its domestic supply chain. The company positions its technology as a tool to deliver affordable, reliable energy at scale to industry, data centers, and the grid.

  • Blitzy

    Participated · Equity · May 2026

    Blitzy builds an autonomous software development platform that reverse-engineers enterprise environments, constructs a persistent knowledge graph of codebases, and orchestrates thousands of agents in parallel to execute multi-week to multi-month development projects. The platform integrates state-of-the-art models from providers including Google, Anthropic, and OpenAI, running these models 100,000+ times on each run, and achieved a record 66.5% score on SWE-Bench Pro. Blitzy reports adoption across dozens of Global 2000 customers and says its platform can drive up to 5x engineering velocity for some large enterprises. The company has more than doubled headcount in the past six months and plans to expand its research team, scale go-to-market operations, and broaden partnerships—particularly in regulated sectors like government, financial services, and insurance. Financially, Blitzy raised $200 million in a growth round at a $1.4 billion valuation to fund these initiatives.

  • Maximum Information

    Participated · Seed · Dec 2025

    Founded in 2020, Maximum Information is developing the first vendor-agnostic middleware layer for catastrophe risk analytics. Its flagship SaaS platform, MagniPhi, plugs into existing cat-modelling workflows and lets users rapidly compare, stress-test and unify outputs from multiple modelling providers. By exposing the assumptions inside each model, the software enables faster and more reliable underwriting and risk-transfer decisions for re/insurers, brokers and financial institutions. The company positions itself as an analytical foundation for closing the $263 billion global natural-catastrophe protection gap. With natural-cat economic losses reaching $417 billion in 2024 and less than 40 % insured, management believes demand for transparent, vendor-agnostic tools will accelerate. Maximum Information intends to capitalise on this generational opportunity by providing orchestration infrastructure rather than another proprietary model. Financial performance metrics such as revenue or customer count were not disclosed, but the company has now secured seed financing to accelerate product development and customer onboarding.

  • Trunk Tools

    Participated · Series B · Jul 2025

    Trunk Tools provides an AI platform that organizes and analyzes drawings, specs, RFIs, schedules, and submittals generated across a construction project's lifecycle. Users can ask natural-language questions and receive instant, accurate, actionable answers sourced from relevant project information. The company is founded and led by CEO Dr. Sarah Buchner and is headquartered in New York. Trunk Tools is already deployed on hundreds of construction projects. The company plans to scale its AI platform across more complex and diverse projects and expand its field enablement program. It will also grow its engineering, product, and go-to-market teams to support that expansion. Trunk Tools provides an AI platform that ingests PDFs, spreadsheets, drawings, blueprints and tables to structure construction documentation and answer questions via a chatbot-like interface. The product can link scheduled construction activities with supporting documents to surface potential issues and insights. The company competes with vendors like Briq, Join and PlanRadar in a construction software market projected to be sizable. Trunk Tools reports a double-digit number of construction-industry customers and thousands of users and is targeting a 4x revenue-to-burn-rate ratio. It operates with a 30-person, New York-based team. The company plans to use new funding to grow the team and develop new services, including a construction worker incentive program. Trunk Tools offers an all-in-one platform that lets construction employees access a portion of their wages daily at no extra cost while providing an incentive-based tool to drive engagement and productivity. The platform uses AI to help managers set productivity goals and safety rewards and delivers payments and rewards via SMS and dedicated debit cards, avoiding extra app downloads. Trunk Tools’ software integrates with existing payroll systems so companies can pay employees instantly and maintain workflow continuity. The company emphasizes AI-based project management combined with behavioral and economic psychology to improve project timelines, budgets, and workforce retention. Trunk Tools plans to use its new capital to expand its team, accelerate development of its output-focused incentives solution, and drive market adoption. The company announced a $9.9M seed raise and has been accepted into Stanford’s dy/dx program supported by top-tier venture firms.

  • Pano

    Participated · Series B · Jun 2025

    Pano AI develops and deploys a full-stack platform for early wildfire detection that combines a network of ultra-high-definition, 360-degree cameras with proprietary AI models and human analysts at the Pano Intelligence Center. Cameras capture panoramic images every minute, AI flags smoke or fire indicators, analysts verify events, and verified alerts with precise GPS coordinates are sent to first responders via SMS or email. The platform integrates satellite imagery, weather data, and third-party GIS sources and uses patented triangulation to improve incident location accuracy while reducing false positives and detection latency. Pano operates as a managed service and covers nearly 30 million acres across the U.S., Canada, and Australia, serving over 250 first responder agencies and 15 major utilities including Arizona Public Service, Portland General Electric, and Xcel Energy. Founded in 2020 and based in San Francisco, the company has a 110-person team across North America and Australia. Its contracted revenue now exceeds $100 million, and the company plans to scale deployments, expand sensor inputs, and deepen AI and partner integrations. Pano AI offers an integrated active wildfire detection solution that combines mountaintop cameras, satellite feeds, artificial intelligence, 5G connectivity, and cloud software to detect and pinpoint new ignitions and alert fire professionals within minutes. The system provides fire agencies with real-time actionable intelligence and situational awareness to coordinate rapid response before fires escalate. The company says its technology helps first responders arrive faster and more safely with the right equipment and information. Pano AI plans to use the new funding to continue advancing its AI-based detection capabilities, hire talent, and expand into additional high fire-risk areas across North America and Australia. Financially, Pano raised $17M in this growth round, bringing total funding to $45M. It is active in six U.S. states (California, Colorado, Oregon, Washington, Idaho, Montana) and two Australian states (New South Wales, Queensland) and serves customers including PacifiCorp, Xcel Energy, Portland General Electric and multiple fire districts and agencies. Pano AI sells a fully managed system that pairs specialized camera hardware with AI models and cloud-based software to provide active wildfire detection and up-to-the-minute situational awareness to fire agencies and land managers. The service is used by utility companies, governments, fire authorities, forestry companies and private landowners, and is currently deployed across five U.S. states (California, Colorado, Oregon, Idaho and Montana) and two Australian states (New South Wales and Queensland). The company says it is monitoring 4.5 million acres and recorded over 1,000 detections this year. Pano positions its product as a tool to help first responders arrive faster and with better information to stop ignitions before they grow. Leadership frames the technology as part of climate-change adaptation, and the company plans to accelerate the geographical breadth of its AI solution to safeguard more communities. Operational progress to date has come within two years of founding, according to the company.

Team