Insurtech startup Snapsheet closes $29 million Series E funding round to accelerate expansion and provide broader claims management solutions globally
Snapsheet, an insurtech startup that provides virtual claims solutions for the insurance industry, has closed $29 million in Series E funding 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. In conjunction with the funding,
With this round, Snapsheet has raised a total of $71 million. The Series E round 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 by Brad Weisberg and CJ Przybyl, the Chicago, Illinois-based Snapsheet is an auto insurance marketplace for both motorists/drivers and auto insurance carriers. It provides technology and processes that improve customer engagement, provide organizational agility and realize real transformational benefits for more than 75 clients around the world.
“Snapsheet has digitized the entire claims process,” said Brad Weisberg, CEO and founder of Snapsheet. “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.”
“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,” Weisberg added.
Sheila Gulati, Founder and Managing Director of Tola Capital and Snapsheet Board Member said, “Our insurance carrier customers and partners are experiencing incredible benefits from Snapsheet’s end-to-end digital claims workflow, leveraging the best software and data innovation to produce better experiences for end-customers. Every interaction is an opportunity to create greater customer satisfaction and loyalty, and Snapsheet’s platform yields both as it streamlines claims experiences for end-customers.”