Reserv, a tech-enabled third-party administrator (TPA), announced the completion of its $25 million Series B funding round. This oversubscribed round, led by Flourish Ventures with full pro-rata participation, also included Accenture Ventures, bringing Reserv’s total funding to $55 million.
Momentum: Reserv combines the best of a traditional TPA *experienced adjusters, managers, and scale) With flexible, modern technology that enables better performance and better reporting. The company saw triple-digit year-over-year revenue growth for two consecutive years. Since its founding in 2022, Reserv has quickly emerged as the leader of next-generation tech-enabled TPAs, growing to over 350 employees in the United States and the United Kingdom. And Reserv supports more than 80 MGA clients and 20 carriers across nearly all property and casualty lines of business, including commercial auto, business owners’ policy, general liability, professional lines, medical malpractice, and more.
Customers choose Reserv because it is reliable, efficient, and offers a high-quality experience for both claimants and adjusters. In addition to the latest innovative technologies, such as agentic AI and automated communications, and a tight feedback loop, Reserv has built transformative capabilities unmatched by others.
Reserv applies the same modern philosophy to everything in the company, including its infrastructure, from HR to compliance, to ensure accuracy and efficiency as it scales a licensed TPA. And Reserv’s flexible technology stack partners seamlessly with multiple vendors, including multiple LLM vendors, to provide accurate, efficient and unique solutions tailored to carriers’ needs.
Example: One example is Reserv’s automated rollover technology, which ingests data from legacy TPAs and incumbent systems, automatically mapping it to the Reserv platform, thereby reducing the typical data migration timeline from over nine months to under two weeks. With this, Reserv structures unstructured data, such as emails and file notes, and reconciles financials to the penny, enabling unprecedented visibility with minimal cost.
How the funding will be used: The Series B funding will primarily be used to build enhanced claims automation models, accelerate integrations, and develop new non-claim modules that leverage Reserv’s vast dataset from its TPA arm. These evolutions will bring demonstrable enhancements to customers’ and claimants’ experience, as well as to Reserv’s best-in-class adjuster tools.
KEY QUOTES:
“Executives hear a lot of noise around AI. ‘The platform should be AI native’ or ‘an AI sidekick is more optimal’, ‘focus on communications’, ‘focus on compliance’. You won’t often hear us speaking so absolutely. We scale quickly, assess our weaknesses, and build solutions to solve our problems in a direct partnership with our customers. A great example of this is our rollover technology. No startup would pitch this idea to a VC as a scalable stand-alone business, but it has been an enabler of our scale—and building it strengthened our LLMs and data science while forging strong feedback loops between platform engineers and adjusters.”
CJ Przybyl, CEO and co-founder of Reserv
“Reserv has demonstrated exceptional progress in a remarkably short period. They’ve successfully built modern infrastructure for an industry traditionally reliant on legacy systems, and their data-driven approach is delivering real value to carriers, MGAs, and ultimately, the policyholders they serve.”
Emmalyn Shaw, Co-founder and Managing Partner at Flourish Ventures
“Insurance claims processing remains at the core of the customer promise and ripe for end-to-end reinvention and disruption. Reserv’s platform empowers insurers to act on more granular claims data for greater efficiency and accuracy, enabling faster claim processing and better customer experience. The feedback loop to risk selection and more competitive pricing drives greater resilience in the market.”
Kenneth Saldanha, senior managing director and Accenture’s North America Insurance lead
