Digital claims management company Snapsheet has raised $30 million in a Series E2 funding round.
These new funds will be used to accelerate growth and add new functionality to Snapsheet’s cloud native end-to-end claims management platform.
With Pivot Investment Partners and Ping An Global Voyager Fund leading this round, Snapsheet’s total raised to date to more than $100 million.
Snapsheet has also announced that Global Voyager’s Chief Investment Officer, Donald Lacey, will join its board of directors.
Existing investors include Nationwide, Liberty Mutual, Intact Ventures, Tola Capital, Commerce Ventures, among others.
Donald Lacey, Global Voyager’s Chief Investment Officer commented: “The digital transformation of insurance has accelerated tenfold in the last year, and demand for cloud technologies is higher than ever across the industry.
“Snapsheet’s cloud-native claims management platform is an end-to-end solution that can plug into the existing tech stack to digitise and automate processes through omnichannel engagement tools, no-code workflow engine and API-driven flexibility.
“This gives auto and home insurers an out-of-the-box platform to dramatically improve claims experiences. We’re thrilled to partner with Snapsheet on this next phase of growth.”
Brad Weisberg, CEO and founder of Snapsheet said: “As carriers and their customers are forced to work and engage virtually, we have seen demand for our technology skyrocket in the wake of COVID-19, and it’s here to stay.
“By digitising the entire claims process from start to finish, we’re able to automate any task, and empower insurers to provide exponentially better customer experiences at the most critical point in their customer lifecycle.”
To fuel further product development and extend awareness, Snapsheet will also use this most recent infusion of capital to make key hires across engineering and sales teams.
Akbar Poonawala, Co-founder of Pivot Investment Partners added: “Snapsheet is a proven insurtech leader that has a demonstrated track record of pioneering digital innovation in the industry. What the Snapsheet team has built is unmatched, and we are delighted to join them at such a pivotal time in the company’s growth.”
