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Reserv Secures $25M in Series B Funding, Tripling Revenue for Two Years

Reserv's AI-driven tools boost claims efficiency. With $25M in new funding, it's set to accelerate growth and innovation.

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Reserv Secures $25M in Series B Funding, Tripling Revenue for Two Years

Reserv, a tech-enabled third-party administrator (TPA), has secured $25 million in Series B funding, led by Flourish Ventures. This brings the company's total funding to $55 million and reflects its impressive growth, with triple-digit year-over-year revenue growth for two consecutive years.

Reserv has expanded its workforce to over 350 employees across the United States and United Kingdom, supporting more than 80 MGA clients and 20 carriers. The company's modern, tech-native approach ensures accuracy and efficiency in its infrastructure, including HR and compliance, as it scales as a licensed and substantiable TPA.

CJ Przybyl, CEO and co-founder of Reserv, attributes the company's quick growth to its problem-solving approach, working directly with customers to assess weaknesses and build solutions. Reserv's AI-driven tools, such as claim severity models and claim summarization tools, significantly boost efficiency in claims processing.

The Series B funding will primarily be used to enhance claims automation models, accelerate integrations, and develop new non-claim modules leveraging Reserv's extensive TPA dataset. Additionally, Reserv's automated rollover technology reduces data migration timelines from over 9 months to under two weeks, providing unparalleled visibility with minimal cost.

Reserv's success has been recognized by industry leaders. Emmalyn Shaw, Co-founder and Managing Partner at Flourish Ventures, praised Reserv's data-driven approach in delivering value to carriers, MGAs, and policyholders. Kenneth Saldanha, senior managing director and Accenture's North America Insurance lead, highlighted Reserv's platform empowering insurers to act on granular claims data for greater efficiency and accuracy. With its latest funding round, Reserv is well-positioned to continue its hypergrowth trajectory.

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