Socotra
Founded Year
2014Stage
Series C | AliveTotal Raised
$84.2MLast Raised
$50M | 4 yrs agoMosaic Score The Mosaic Score is an algorithm that measures the overall financial health and market potential of private companies.
-71 points in the past 30 days
About Socotra
Socotra operates as a company providing technology solutions in the insurance industry. The company offers a range of products that help insurers accelerate product development, reduce maintenance costs, and improve customer experiences. It primarily serves the insurance industry. It was founded in 2014 and is based in San Francisco, California.
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Socotra's Product Videos
ESPs containing Socotra
The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.
The claims triage software market facilitates the triage process in insurance claims management. Claims triage involves the initial assessment and categorization of insurance claims upon first notice of loss. Insurers can use these solutions to optimize resource allocation, expedite the claims handling process, and improve the customer experience. The solutions in this space typically leverage tec…
Socotra named as Challenger among 15 other companies, including Guidewire Software, Sapiens, and UiPath.
Socotra's Products & Differentiators
Socotra Connected Core
The only true cloud-native insurance platform, productized with publicly published open APIs and seamless automatic updates. Built to scale as your business grows, Socotra Connected Core accelerates your ability to bring innovative ideas to market while eliminating the inflexibility and expense of customized legacy software. Lower your total cost of ownership and get the control and flexibility needed to compete in today’s insurance market.
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Research containing Socotra
Get data-driven expert analysis from the CB Insights Intelligence Unit.
CB Insights Intelligence Analysts have mentioned Socotra in 9 CB Insights research briefs, most recently on Jun 7, 2024.
Dec 18, 2023
The P&C claims tech stack market mapApr 13, 2022 report
Why life insurance underwriters are prioritizing underwriting workbenchesExpert Collections containing Socotra
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Socotra is included in 5 Expert Collections, including Insurtech.
Insurtech
4,354 items
Companies and startups that use technology to improve core and ancillary insurance operations. Companies in this collection are creating new product architectures, improving underwriting models, accelerating claims and creating a better customer experience
Fintech
9,297 items
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
Fintech 100
749 items
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
Insurtech 50
100 items
Report: https://app.cbinsights.com/research/report/top-insurtech-startups-2022/
ITC Vegas 2024 - Exhibitors and Sponsors
627 items
As of 9/9/24. Company list source: ITC Vegas. Check ITC Vegas' website for any updates: https://events.clarionevents.com/InsureTech2024/Public/EventMap.aspx?shMode=E&ID=84001
Latest Socotra News
Sep 3, 2024
Jetty partners with Socotra, enhancing renters insurance and surety services with faster policy binding, real-time reporting, and seamless API integration
Socotra Frequently Asked Questions (FAQ)
When was Socotra founded?
Socotra was founded in 2014.
Where is Socotra's headquarters?
Socotra's headquarters is located at 33 New Montgomery Street, San Francisco.
What is Socotra's latest funding round?
Socotra's latest funding round is Series C.
How much did Socotra raise?
Socotra raised a total of $84.2M.
Who are the investors of Socotra?
Investors of Socotra include 8VC, MS&AD Ventures, Nationwide Ventures, Portage, Brewer Lane Ventures and 4 more.
Who are Socotra's competitors?
Competitors of Socotra include Korint, Wefox, Boost Insurance, Root, Duck Creek Technologies and 7 more.
What products does Socotra offer?
Socotra's products include Socotra Connected Core and 4 more.
Who are Socotra's customers?
Customers of Socotra include Lavalier (Berkley Asset Protection).
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Compare Socotra to Competitors
Instanda specializes in providing no-code software solutions for the insurance industry, focusing on policy administration and product innovation. The company offers a platform that enables carriers, MGAs, and brokers to design, build, and launch insurance products rapidly, with capabilities for seamless integration into existing systems. Instanda's platform is utilized by various sectors within the insurance industry, including property & casualty and life & health. It was founded in 2012 and is based in London, England.
Snapsheet specializes in insurance technology solutions. It enables a claim process starting with virtual estimations all the way to final repairs and payment, by generating communication between consumers, shops, and carriers. The company offers a range of services including appraisals, claims management, and payments, all aimed at managing the insurance claims process. It primarily serves the insurance industry. It was founded in 2011 and is based in Chicago, Illinois.
Majesco (NASDAQ: MJCO) provides core insurance technology software and information technology (IT) services to carriers worldwide. It delivers solutions and IT services in core insurance areas including policy administration, billing, claims, and distribution. The company was founded in 1982 and is based in Morristown, New Jersey.
Insurity offers flexible technology solutions to the property and casualty insurance industries. It includes policy, billing, and claims solutions, data analytics, predictive tools, and digital enablement. The company was founded in 1985 and is based in Hartford, Connecticut.
Insuresoft is a company that focuses on providing innovative software solutions in the insurance industry. The company offers a comprehensive platform that includes policy administration, billing, claims management, and customer communication management. This platform, known as 'Diamond', is designed to support various lines of business such as Personal, Commercial, Specialty, Farm, Non-standard Auto, and Workers’ Comp. It is primarily used by insurance carriers, as well as MGAs or TPAs. It was founded in 2004 and is based in University Park, Illinois.
Duck Creek Technologies specializes in providing low-code software as a service core system for the property and casualty (P&C) and general insurance industry. Their offerings include a suite of software solutions that enable insurers to manage policies, process claims, and engage with customers digitally. Duck Creek's products are designed to support insurers in streamlining their operations and adapting to the ever-changing insurance landscape. It was founded in 2000 and is based in Boston, Massachusetts.
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