USA – Clara Analytics, a Santa Clara, CA-based provider of artificial intelligence (AI) technology for insurance claims optimization, raised $24M in Series C funding.
The round was led by new investor Spring Lake Equity Partners, with participation from existing investors including Aspen Capital Group, Oak HC/FT and QBE Ventures.The company intends to use the funds to further enhance its platform’s AI capabilities, including generative AI, predictive modeling, and natural language processing capabilities.Led by CEO Heather H. Wilson, Clara Analytics is an AI as a service (AIaaS) provider that aims to improve casualty claims outcomes for insurance carriers, MGAs, reinsurers, and self-insured organizations. Its product suite applies image recognition, natural language processing, and other AI-based techniques to move insights from medical notes, legal demand packages, bills and other documents surrounding a claim. Its predictive insight gives professionals augmented intelligence that helps them reduce claim costs and optimize outcomes for the carrier, customer and claimant. The platform of AI-based software includes CLARA Triage, CLARA Treatment, CLARA Litigation, CLARA Optics and CLARA MSP Compliance. Customers include companies from 25 global insurance carriers such as Berkshire Hathaway Homestate Companies, AmTrust, Amerisure, and QBE, to third-party administrators and self-insured organizations.07/09/2023
