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To bring new flexibility, agility, and modern technology to the massive global insurance industry.
-6% employee growth in 12 months
Socotra is a cloud native platform for insurance providers, supplying them with APIs to more quickly and cheaply develop and launch new products in the market.
The digital transformation of insurance operations has reshaped the industry and its future, driving the need for platforms like Socotro's to help replace legacy technologies. The company claims to help its customers go live three times faster than average, and at half the price, providing them an edge for delivering innovative products for the space.
That the company’s offering was the first of its kind gave it an obvious lead in the market, securing big-name customers in the form of Nationwide, IAG, and AXA. It has seen significant investment, and made numerous integration and technology partnerships towards streamlining implementation and adding utility for its clients - putting it in good stead to find success into the future.
Steph
Company Specialist at Welcome to the Jungle
Mar 2022
$50m
SERIES C
Jan 2021
$11m
EARLY VC
This company has top investors
Dan Woods
(CEO)Having studied at Stanford, Dan worked at Palantir as a Software Engineer for 6 years before working as a Formation 8 Partners Fellow. They founded Socotra in June 2014, serving since as CEO.