In a bold move to reimagine the future of independent insurance, Equal Parts has officially launched with $10 million in acquisition capital, backed by Equal Ventures and Max Ventures. The Austin-based startup is not your typical insurance player — it’s a next-generation agency on a mission to blend cutting-edge artificial intelligence with the powerful human relationships that have long defined the insurance industry.
A Human-Centered Tech Revolution
Equal Parts is taking a refreshing stance in an industry plagued by consolidation and digital fatigue. Instead of replacing human agents with chatbots or fully automated workflows, the company is enhancing the human touch with AI-powered infrastructure that tackles the behind-the-scenes drudgery.
Think less about automation for automation’s sake, and more about tools that amplify agents’ capabilities: auto-generating quotes, intelligently managing risk portfolios, and surfacing actionable insights for cross-sell and upsell opportunities — all without compromising the personal relationships that clients value most.
“At Equal Parts, we believe the future of insurance is equal parts innovation and relationships, equal parts technology and tradition,” said Mike Witte, CEO and co-founder. “The winner in this space will be the one that takes both of those parts to the extreme — and we’re here to do exactly that.”
Witte is no stranger to scaling service-driven businesses. He previously co-founded Workrise (formerly RigUp), transforming it into a $2.9 billion energy services platform. Now, he’s applying that same playbook to insurance — starting with small but mighty independent agencies.
Why This Matters Now
The timing couldn’t be more urgent. The independent insurance sector is on the brink of a massive generational turnover — with 50% of agents expected to retire within the next decade, and fewer young professionals entering the field. At the same time, many agencies are burdened by fragmented software, manual processes, and outdated systems that stifle growth.
Enter Equal Parts.
The company aims to acquire agencies with under $5 million in revenue — a segment often overlooked by traditional private equity — and infuse them with machine learning tools that handle repetitive tasks like document processing, client onboarding, and claims management.
By automating the grunt work, agents are free to focus on what matters: client service, strategic advising, and relationship-building.
Who’s Behind Equal Parts?
The founding team brings deep technical and operational expertise:
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Mike Witte, CEO, previously scaled Workrise into a multibillion-dollar platform.
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Mike Meller, Head of Operations, led Workrise’s acquisition strategy and brings a sharp eye for growth through M&A.
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Graham Yennie, Head of Technology, specializes in applied machine learning, building AI solutions that solve real-world business problems rather than chase buzzwords.
Yennie and his team are focused on deploying intelligent systems that act as a force multiplier — not a replacement — for human expertise. Their tech stack includes natural language processing (NLP) for understanding client communications, predictive analytics for customer retention, and AI-assisted CRM tools that streamline complex workflows.
The Equal Parts Approach: Different by Design
Where most private equity firms see insurance agencies as cost-cutting opportunities, Equal Parts sees potential for growth through empowerment. Their model doesn’t just preserve the culture of these agencies — it modernizes it, with a people-first mindset.
“Our technology doesn’t replace the human element,” said Meller. “It enhances it by removing the administrative burden that so often prevents small business owners from prioritizing client-focused work.”
The company has already closed its first acquisition, with several more on track over the next 90 days. This marks the beginning of what they call a new era of people-centric, AI-enhanced insurance.
Building a Better Ecosystem, One Agency at a Time
Equal Parts is more than just a roll-up strategy — it’s a movement. With each acquisition, the company brings agencies into a collaborative platform where they retain autonomy while gaining access to tools that supercharge their business.
Agents get a seat at the table. Clients get better service. And the entire industry gets a much-needed upgrade.
The company’s broader goal? To usher in a new generation of tech-savvy insurance professionals who don’t have to choose between innovation and empathy.
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