owl.co is an insurance claims monitoring platform that leverages machine learning to detect and mitigate fraud in disability and workers' compensation claims. Its platform automatically flags malingering, exaggerated, or non‑eligible claims at a rate five times greater than other tools while excluding claimant attributes such as age, gender, neighborhood statistics, and race to reduce bias. The company says its solution enables insurers to stop unwarranted payments, release reserves, adjust expenses, and delivers a 10-fold ROI, helping lower premiums and addressing an estimated $80 billion fraud cost. Six of the 10 largest U.S. insurers are reported users of the platform. owl.co plans to scale the product and expand its team, targeting a 20% increase in U.S. and Canadian full-time staff before the end of 2021 with additional hiring planned for 2022, supported by new funding. The Series B brings the company’s total capital raised to $40 million and follows a CAD$4.5 million co-investment from the Canadian government in 2020. Founded in 2018, owl.co has offices in Vancouver, Toronto, New York and Seattle.

Total raised

$30M

Funding rounds

1

Latest round

Series B

Latest activity

Nov 2021