CHICAGO, June 29, 2020 /PRNewswire/ -- Aclaimant, an insight-driven workflow platform for safety and risk management, today announced it has raised $10 million in Series A funding led by Mercury Fund.
This brings the company's total funds raised to nearly $13 million, with a seed round of $2.9 million secured in 2017. Additional investors for the Series A financing include Royal Street Ventures, EBSCO Capital, KEC Ventures, RRE Ventures, and Aspen Capital Group.
Aclaimant was founded on the belief that organizations can reduce their cost of risk while providing a safe environment for employees. Aclaimant proactively uncovers problems to fundamentally change the way organizations manage risk. By combining insurance industry experts with innovative technology solutions, Aclaimant improves risk and claims management processes for all businesses. Aclaimant caters to multiple industries, including construction, manufacturing, staffing, real estate, and hospitality.
With fresh capital, Aclaimant plans to accelerate client acquisition and sales as well as marketing and partnership development. The company also plans to invest in product innovation and enhancements focused on data, compliance, and design. Aclaimant continues to add key talent across the risk management spectrum to grow and expand its in-house subject matter expertise.
"Now more than ever, organizations must create cultures of workplace safety," said David Wald, CEO and co-founder at Aclaimant. "Aclaimant fosters this by engaging the employee, employer, and insurance carrier in making workplace incidents everyone's responsibility. With the new funding, we're excited to work closely with our customers to prioritize safety by providing a workflow that allows employees and employers to report and streamline insurance claims on-the-go."
The senior management team, including co-founders Wald, Joel Friedman, and Michael Schultz, will continue to lead the company. They are joined by Adrian Fortino, Managing Director at Mercury Fund, and Laura Brady, Managing Director at Royal Street Ventures, as members of the Board of Directors.
"The future of the insurtech and risk management industry has a lot to benefit from increased use of automated workflows and enhanced user experience," said Fortino. "We're excited to partner with Aclaimant and help them capitalize on this incredible opportunity. In this time of COVID-19, we are now in uncharted territory for the enterprise. A complete risk management workflow platform like Aclaimant is critical for both the 'back-to-work' dynamic and the post COVID focus on corporate risk management and tracking."
To learn more about Aclaimant's capabilities, visit https://aclaimant.com/.
Aclaimant is the insight-driven workflow solution for safety and risk management. We help identify and protect what's important. Aclaimant's comprehensive product suite delivers a unified platform for employers across multiple industries, including construction, real estate, staffing, and hospitality. Founded in 2013 and headquartered in Chicago, Ill., Aclaimant's solutions have helped organizations reduce business insurance costs by streamlining every phase of risk management into one, easy to use workflow tool. Aclaimant brings loss prevention, incident management, and analytics into one connected platform that removes complexity, saves time, and produces better outcomes. For more information, please visit https://aclaimant.com/
About Mercury Fund
Mercury Fund is an early-stage venture capital firm. With over $300 million under management, Mercury focuses on entrepreneurs and technology innovation originating in the U.S. Midcontinent. Our investment themes target SaaS, Cloud, and Data Science/AI platforms that make the industrial ecosystems of Middle America more competitive and efficient.
Over a decade ago, Mercury recognized the rise of entrepreneurs and innovation in the underinvested Midcontinent. Our venture investment strategy leverages our unparalleled network of midcontinent startup development organizations, corporate innovation partners, and co-investors to assist entrepreneurs with the resources they need to rapidly scale their businesses. We have spent our professional careers advising, mentoring, and investing in Mid-American entrepreneurs. We believe now, more than ever, the Midcontinent represents a great venture capital opportunity.
Walker Sands, for Aclaimant