Led · Series B · Sep 2025

Founded in 2022, Reserv provides TPA services and claims intelligence technology for property and casualty insurers and related risk-bearing entities. Its Reserv Glance platform centralizes historical and open claims into a single database and applies fully explainable AI to analyze and act on critical claims while scaling human and automated workflows. Clients can choose levels of automation ranging from automated handling of simpler claims to supported approaches for complex cases, allowing migration away from legacy claims systems in weeks. Reserv reports annual recurring revenue of $100 million, serves nearly 200 insurers, corporate captives, MGAs, and brokers, and employs over 500 claims adjusters. The company says it has more than doubled claims processing capacity each year and aims to scale from 500,000 annual complex claims capacity today to 30 million in four years. Reserv positions itself as operating in a "post-AI" environment where the latest AI tools are production-ready and integrated into its platform to improve outcomes and speed.

Participated · Series D · May 2025

Snorkel AI’s flagship platform uses automation and repeatable workflows to transform disparate, siloed data and domain knowledge into high‑quality data for training and evaluating AI models. Its data‑centric approach is designed to accelerate safer, faster deployment of specialized AI systems, particularly in complex and regulated environments. Product offerings include Snorkel Expert Data‑as‑a‑Service and Snorkel Enterprise AI to accelerate evaluation and tuning of specialized models and help teams move from prototype to production. The company emphasizes embedding expert knowledge directly into the AI development process to improve labeling and data curation. Snorkel plans to collaborate with Accenture to build tailored, industry‑specific solutions, with an initial focus on financial services. Its platform is used in production by Fortune 500 companies including BNY and Experian, as well as by the U.S. government. Snorkel AI provides a programmatic AI data development platform that helps enterprises build, evaluate, and tune specialized AI systems and agents for production. The company announced general availability of two offerings—Snorkel Evaluate and Snorkel Expert Data-as-a-Service—to scale fine-grained evaluation and deliver white-glove expert datasets. Snorkel Evaluate offers programmatic tooling for benchmark dataset creation, specialized evaluators, and error-mode correction to move beyond generic benchmarks and off-the-shelf judgment approaches. Snorkel Expert Data-as-a-Service pairs Snorkel’s programmatic technology with a network of trained subject-matter experts to produce datasets for advanced reasoning, agentic tool use, multi-turn interaction, and domain-specific knowledge. Snorkel says its platform is used in production by Fortune 500 customers (including BNY, Wayfair, and Chubb) and by U.S. federal customers such as the U.S. Air Force. The company will use new capital to expand engineering, research, and go-to-market efforts while advancing evaluation and tuning of specialized AI with expert data. Snorkel AI began as a research project in 2015 and was established as a company in 2019. Its core product, Snorkel Flow, converts manual AI development processes into programmatic solutions that make unstructured and unlabeled data usable for machine learning. The platform is designed to enable faster AI development and to make data accessible even to non-technical stakeholders. Snorkel addresses the insurance industry challenge where an estimated large portion of data is unstructured and not AI-ready. The company is positioned to help insurers customize models and fine-tune foundational models in more scalable and cost-effective ways. QBE’s data science and claims analytics teams in North America are using Snorkel Flow across predictive analytics applications, notably in claims and underwriting. Snorkel AI provides a programmatic data-labeling platform that minimizes hand-labeling by letting users annotate and manage data via SDKs and no-code interfaces, enabling iterative model training and error-mode identification. Its Application Studio hosts templates for common AI tasks such as contract intelligence, news analytics, customer interaction routing, text and document classification, named entity recognition, and information extraction, and supplies packaged preprocessors, programmatic labeling templates, and high-performance open-source models trainable on private data. The service decomposes apps into modular workflows to accelerate development and improve model performance. Founded in 2019 as a Stanford AI Lab spinout with engineers from Apple, Facebook, Google, Microsoft, and Nvidia, Snorkel counts customers and partners including Apple, Intel, Stanford Medicine, and U.S. government agencies. The company competes with Scale AI, Appen, Labelbox, Cloudfactory and incumbents like Amazon. Snorkel recently raised a Series C that values the company at $1 billion and brings total capital raised to $135 million; proceeds will be used to scale its engineering team and accelerate product development to reach more domains and use cases. Snorkel AI develops software to automate programmatic data labeling for machine learning, enabling subject-matter experts to apply labels via labeling functions. The company says its approach can cut labeling time and effort from months to hours or days depending on data complexity. It also launched Application Studio, a templated visual no-code interface with predefined components to help customers turn labeled data and models into production applications such as contract classifiers or network anomaly detectors. Snorkel's products are based on research that began at the Stanford AI Lab in 2015 and the company launched in 2019. The startup has 40 employees. Snorkel emphasizes making labeling auditable to help detect and address bias in automated models. Financially, the company reports it has now raised $50 million to date.

Participated · Series C · Sep 2023

CLARA Analytics offers CLARAty.ai, an AI platform that analyzes structured and unstructured claims data using natural language processing, image recognition, predictive AI, generative AI, and large language models to generate case summaries, alerts, and recommendations for claims associates. The platform ingests medical notes, legal demand packages, bills, and other documents to surface actionable insights and optimize claim outcomes. CLARA serves customers ranging from top global insurance carriers to third-party administrators and self-insured organizations. The company says it has more than doubled its annual recurring revenue in the past year and expects rapid growth as AI adoption increases in claims management. CLARA was founded in 2017 and is headquartered in California’s Silicon Valley. Its product roadmap and positioning emphasize expanding AI-driven decision support across carrier workflows. CLARA Analytics offers an AI-as-a-service platform that applies image recognition, natural language processing, and predictive modeling to extract insights from medical notes, bills, legal demand packages and other claims documents. Its product suite includes CLARA Triage, CLARA Treatment, CLARA Litigation, CLARA Optics and CLARA MSP Compliance. The company says it has more than doubled its annual recurring revenue and has grown its customer base, increasing penetration in the workers’ compensation market while expanding into auto liability and general liability. CLARA’s software is used by major insurers and self-insured organizations, including Berkshire Hathaway Homestate Companies, AmTrust, Amerisure and QBE; Amazon recently selected CLARA as a technology partner for a workers’ compensation program. The company plans to use the new funding to further enhance its platform’s AI capabilities, including generative AI, predictive modeling and natural language processing. Founded in 2017, CLARA Analytics is headquartered in California’s Silicon Valley. CLARA analytics offers a suite of AI-based products for commercial insurance claims, including CLARA claims, CLARA providers, CLARA litigation and a Medicare Set-Aside solution. The company ingests structured and unstructured data from medical notes, bills and other documents into a cross-industry data lake to generate predictions and insights for claims teams. Its products are used by leading insurers such as Berkshire Hathaway Homestate Companies, EMC Insurance, Amerisure and QBE Insurance, and by customers across the top 25 global carriers, large third-party administrators and self-insured organizations. One insurer using CLARA’s claims and providers solutions has seen claimants return to work 35% faster. CLARA plans to use the funding to extend its product suite, attract industry talent, expand global reach and invest heavily in customer-facing sales and support while augmenting its workers’ compensation expertise. The company also intends to expand into additional property and casualty insurance lines to address rising health care and litigation expenses. CLARA analytics is an AI and data science company that builds easy-to-use AI-based solutions for claims operations in the Property & Casualty and Disability insurance industries. Its flagship products, CLARA providers and CLARA claims, are focused on workers' compensation: CLARA providers is a provider-scoring search engine and CLARA claims is an early warning system for frontline claims teams. The company says its technology has delivered strong ROI for customers by reducing up to 10% of claims indemnity and loss adjustment expenses and aims to cut claims leakage across the $800 billion global commercial P&C market. CLARA's customer base includes top 25 insurance carriers, small specialty carriers, self-insured organizations and TPAs. Its solutions detect potential litigation early, connect claims to the right providers, ensure optimal treatment protocols, and align claims resources based on complexity. The company plans to extend its workers' compensation solutions to other lines such as commercial auto, general and professional liability, and disability.

Participated · Seed · Apr 2023

YellowBird operates an EHS and Risk Management technology platform and marketplace that matches EHS professionals with flex work. The company emphasizes artificial intelligence, performance tracking, delivery efficiency, and offers upskilling opportunities for its professionals. It plans to use new funding to further develop technology, hire engineering staff, expand its customer success team, and accelerate sales, marketing, customer acquisition, and its marketplace strategy. YellowBird has sourced jobs in 42 states and reported 2x year-over-year revenue and supply growth for two consecutive years. Its customer list includes Fortune 100 companies such as Nationwide and QBE and major brands in manufacturing, construction, and energy. Working EHS and Risk Management professionals on the YellowBird platform earn an average of $75 per hour. YellowBird operates a gig marketplace that connects businesses with certified, vetted, and insured Risk and EHS professionals ready to work on projects of any size. Its service offerings include OSHA incident investigations and mock audits, industrial hygiene, on-site safety managers, custom projects, and training. The company emphasizes a roster of professionals who are vetted and insured to serve client needs. YellowBird plans to use new funding to hire internally and scale its markets across the country. It also intends to further develop its artificial intelligence (AI) platform to support its marketplace. Leadership includes Founder and CEO Michael Zalle, Chief Product Officer Anthony Argenziano, and Co‑founder and COO Michelle Tinsley.

Led · Equity · Oct 2022

Founded in 2019 as Catalyst Technologies by Joshua Shields and Marcus Vaughan, iluminr offers a cloud-based SaaS platform for resilience professionals that combines gamified microsimulations, global threat monitoring, lightning-fast emergency notifications, and collaborative crisis event rooms. The product is designed to reignite engagement, streamline preparedness, and empower teams to respond to mission-critical threats. iluminr reports more than 50 local customers, including Ramsay HealthCare, GPT, and the University of Sydney, and has secured a major US financial services customer as a beachhead into the US market. The company plans to use its recent funding to expand into the US, double its team, broaden product offerings, and develop new distribution and sales channels. CEO Joshua Shields highlighted strategic alignment with QBE Ventures and access to an extensive customer and partner network as a critical factor in the raise. iluminr offers a suite of cloud-based tools that help businesses identify, contextualize and respond to critical events by monitoring third-party information such as weather warnings, social media sentiment, cybersecurity breaches and physical security incidents. The platform is designed to accelerate awareness, clarify impacts, enable stakeholder communication and streamline organizational response. The company reports more than 100 customers, including GPT Group, Vicinity Centers, Cbus Super, NTT and the University of Sydney. Founded by Joshua Shields and launched in October 2019 (previously operating as Catalyst Technologies), iluminr builds on Shields' prior exit of the RiskLogic consultancy. The startup plans to leverage AI and machine learning for automation, predictive modelling and tailored insights. It recently raised $1.8 million in seed funding to support further product development and expand its local and global footprint.