Indico Data, a Boston, MA-based solution for automating critical intake workflows across the policy lifecycle, closed $19 million in the funding round.
Investors
The round was led by .406 Ventures and joined by Guidewire and existing investors Sandbox Industries, Osage Venture Partners, and Jump Capital.
Indico Data Use of Funds
The company will use the funds to enhance its AI technology platform, expand its global reach, bolster customer success initiatives, and launch a Guidewire accelerator for seamless integration with Guidewire PolicyCenter.
About Indico Data
Indico Data specializes in AI-driven solutions for automating critical intake workflows across various stages of the policy lifecycle. Their platform leverages advanced AI technology to process and analyze unstructured data, enabling enterprises, particularly in the insurance industry, to make better decisions with improved data accuracy and efficiency. One of Indico Data's key offerings is its Intelligent Intake solution, which helps streamline processes such as underwriting and claims by automating the extraction and analysis of structured, semi-structured, and unstructured data from various sources, including emails and documents.
Funding Details
Company: Indico Data Solutions, Inc.
Raised: $19.0M
Round: Unknown
Funding Month: June 2024
Lead Investors: .406 Ventures
Additional Investors: Guidewire, Sandbox Industries, Osage Venture Partners, Jump Capital
Company Website: https://indicodata.ai/
Software Category: Document Process Automation
Source: https://www.prnewswire.com/news-releases/indico-data-closes-19m-funding-round-and-secures-strategic-investment-from-pc-software-platform-leader-guidewire-302165038.html