Applicant Raises $ 15 Million in Series B Funding Led by Next Coast Ventures
CHICAGO, April 1, 2021 / PRNewswire / – Applicant, a knowledge-driven workflow platform for security and risk management, announced today that it has $ 15 million in Series B equity and debt financings led by Upcoming coastal adventures.
This brings the company’s total funds raised to over $ 20 million. Adam rogers, former CEO of Ultimate Software and existing investors Mercury Fund, KEC companies, The businesses of the rue royale, and Aspen Capital Group also participated in the round.
Applicant’s Series B funding follows one year of significant growth and momentum. In 2020, Aclaimant recorded its best revenues and increase in the number of customers ever recorded. The company’s monthly active users on the platform and system usage increased by over 400% in 2020.
The company will use the new funds to double product innovation, increase recruitment in all departments, accelerate customer acquisition and sales as well as the development of marketing and partnerships. Aclaimant will continue to add key talent across the risk management spectrum to develop and expand its internal subject matter expertise.
“Since our inception, we have firmly believed that organizations can reduce their cost of risk while providing a safer environment for employees. With security being a key priority for organizations in today’s landscape, this commitment is stronger than ever, ”said David Wald, CEO and co-founder of Aclaimant. “We are proud of the trust and respect we have earned in the industry, and we look forward to bringing our innovative products to the mass market with the help of our investing partners.”
A recent poll found that two-thirds of employees worry about their health and safety when it comes to returning to the workplace amid COVID-19. As vaccines are rolled out around the world, the “return to work” dynamic is primarily focused on employee safety at work – a mission that fits well with Aclaimant’s expertise. The Aclaimant platform is designed to help organizations actively manage risk while improving the claims handling process, and with its new capital, the company will continue to develop innovative technologies that keep employees safe on their premises. working in many industries including construction, manufacturing, staffing, real estate and hospitality.
“David and the Aclaimant team have built an incredible platform and brought together the right team to seize this opportunity. Together, they bring much needed innovation to risk management and the remaining insurance space of old obsolete technologies, ”said Thomas ball, partner, NextCoast Ventures. “Aclaimant enables risk managers to take control of their systems, data and processes. Aclaimant is the future of active risk management. Historical actors should not be having fun. own hands and genuinely improve their organizations from the inside out. “
The management team, including the Wald co-founders, Joel friedman, and Michael schultz, will continue to lead the business. As part of the round, Thomas ball (Partner of Next Coast Ventures) will join the company’s board of directors as a director, Kathy burns (Chief Digital Officer at Ryan Specialty) will join the company’s board of directors as an independent director, and Adam rogers will join the board of directors of the company as an observer.
To learn more about Aclaimant’s capabilities, visit https://aclaimant.com/.
Aclaimant is a knowledge-driven workflow solution for security and risk management designed to help organizations identify risks more effectively and reduce costs. Aclaimant’s comprehensive suite of products provides a unified platform for employees, employers and insurance companies in the construction, real estate, staffing and hospitality industries. Founded in 2013 and based in Chicago, Aclaimant’s solutions have reduced business insurance costs by up to 40% for its customers. By streamlining each phase of risk management into one easy-to-use workflow tool, Aclaimant helps businesses digitize and optimize workplace safety, incident / claims management and analysis. For more information, please visit https://aclaimant.com/.
About Next Coast Ventures
Next Coast Ventures is a Austinventure capital firm that partners with daring entrepreneurs to create innovative businesses in major markets. It provides seed capital to high-growth startups in the “next coast” markets, using macro trends and themes to guide its investment strategy. Next Coast provides its growing group of portfolio companies with practical and entrepreneurial resources through its strong industry network, Entrepreneurs Council program and the founders’ own experiences as entrepreneurs. Learn more about https://www.nextcoastventures.com/.
Walking sands, for the applicant