On August 22, 2022, At-Bay, Inc., the insurance provider for the digital age, announced the acquisition of Relay Platform Inc., a technology solutions provider enabling the digital transformation of commercial insurance placements. Terms were not disclosed.

At-Bay’s annual recurring gross written premium (ARGWP) surpassed $360 million in 2022, and the company has raised $292 million from investors including Lightspeed Venture Partners, Khosla Ventures, M12, Acrew Capital, Icon Ventures, ION Crossover Partners, Qumra Capital, the HSB fund of Munich Re Ventures, and entrepreneur Shlomo Kramer.

Torys acted as counsel to Relay with a team that included Konata Lake, Kirsten Hentschel and Max Schwartz-Labell (corporate/M&A), Ed Fan (IP), Ellie Kang and Tom Stevenson (employment), Andrew Silverman, Michelle Lu, Chris Saki and Benjamin Mann (tax).