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Insurance Ai Leader Evolutioniq's Funding Total Rises To $33.1M With Series B Round While Valuation Passes $200M

PRIVATEFeb 28, 2023

Round Type

Series B

New YorkInformation TechnologySoftwareArtificial IntelligenceMachine LearningNatural Language Processing

Investors

FirstMark CapitalPalantirMetaBloombergAmazonPrincipal Financial Group®Foundation CapitalFirst Round CapitalBrewer Lane Ventures

Description

EvolutionIQ, the market-leading AI-powered Claims Guidance platform for Disability, Workers' Compensation, and Property & Casualty insurance, today announced that it completed its Series B round, raising $7M at a greater than $200M valuation. Brewer Lane Ventures led the round, with participation from all major existing investors including First Round Capital, FirstMark Capital and Foundation Capital, and joined by Principal Financial Group®, the major insurance company and existing EvolutionIQ customer.

Company Information

Company

EvolutionIQ

Location

250 Hudson St, 6th Floor

New York, New York, United States

About

Legal Name of EvolutionIQ is Deepfraud Technologies Inc. EvolutionIQ created the world's first fully AI-driven claims guidance platform for the most sophisticated insurance carriers in the world. Our platform makes insurance more fair, transparent and affordable.

Fundz sees it the moment EvolutionIQ raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.

Related People

1 contact
Verified contactsKaran U., EVP of Engineering hiddenSee plans and pricing
Predictive Intelligence
Strategic

ML-powered predictions for EvolutionIQ's next move

See what Strategic adds

Funding Insights

What this usually means
Timeline to next round
Series B companies typically work for 15-20 months before raising new capital
Growth expectations
Series B companies are expected to scale rapidly and expand market reach

EvolutionIQ raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.

145 of these a day, filtered to the companies you pick, with the decision-maker attached.

5 screens from a live account. No signup.

Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals, including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications, based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 281,000+ organizations. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.