Snapsheet, a U.S.-based insurtech that’s focused in virtual claims solution, announced earlier this week it raised $29 million through its Series E funding round, which was led by Tola Capital, a venture capital firm that focuses on enterprise software. It includes participation from new investors, including Nationwide, Sedgwick, and State Auto Labs with participation from existing investors Liberty Mutual Strategic Ventures, F-Prime Capital, OCA Ventures and an affiliate of USAA.
Founded in 2010, Snapsheet provides unmatched technology and processes that improve customer engagement, provide organizational agility and realize real transformational benefits. Founded and CEO of Snapshot, Brad Weisberg, stated:
“Snapsheet has digitized the entire claims process. In the last few years, we have advanced our cloud-based claims and analytics solutions. This is no longer just for auto, but across all P&C lines. The evolution of where we are going is making our technology available to clients as SaaS claims solutions.”
Weisberg went on to add:
“We have helped to lead a digital and data-driven revolution that is transforming how our clients engage with their customers and stakeholders across the auto claims ecosystem. Now, we are accelerating and expanding our proven technology, software, and processes. This continues to make a real impact on the auto claims process, but there is so much more that we can do for our clients.”
The funding from the Series E round will be used to enable Snapsheet to accelerate the delivery of its end-to-end SaaS claims platform for all lines of property and casualty, further invest in advanced analytics capabilities and expand the team to serve clients globally.