Aclaimant nailed down $15 million, venture capital financing the safety and risk management insurance technology startup will use to fuel further product innovation, hiring, marketing, sales and partnerships.
The Chicago based startup, founded in 2013, is centered around a platform designed to help organizations actively manage risk while improving the claims management process. Targeted clients come from industries including construction, manufacturing, staffing, real estate and hospitality.
“We’re proud of the trust and respect we’ve earned in the industry, and we’re looking forward to bringing our innovative products to the mass market with the help of our investor partners,” David Wald, CEO and co-founder of Aclaimant, said in prepared remarks.
Next Coast Ventures led Aclaimant’s Series B equity and debt funding. Adam Rogers, former CEO of Ultimate Software, and existing investors Mercury Fund, KEC Ventures, Royal Street Ventures and Aspen Capital Group also participated.
To date, the company has raised more than $20 million.
The senior management team, including co-founders Wald, Joel Friedman, and Michael Schultz, will continue to lead the company. As part of the round, Thomas Ball, a Partner at Next Coast Ventures, will join the company’s board as a director. Kathy Burns, Chief Digital Officer at Ryan Specialty, will join the company’s board as an independent director, and Rogers will join the company’s board as an observer.