Reserv Raises $25M Series B to Build out Claims Automation Models

Reserv Inc., a tech-focused third-party administrator, completed its $25 million Series B funding round.

The oversubscribed round, led by Flourish Ventures with full pro-rata participation, also included Accenture Ventures, bringing Reserv’s reported total funding to $55 million.

The company said the Series B funding will primarily be used to build claims automation models, accelerated integrations and develop net-new non-claim modules.

The company is backed by Altai Ventures, Bain Capital Ventures, Flourish Ventures and others. Reserv has 320 employees in the U.S. and the UK. Reserv.

Flourish Ventures is an $850 million global early-stage venture firm.