Aclaimant raises $15 million in Series B
Chicago-based Aclaimant , an insight-driven workflow platform for safety and risk management, has raised $15 million in Series B equity and debt funding led by Next Coast Ventures. Since its inception in 2013, the company has raised over $20 million. Adam Rogers, former CEO of Ultimate Software, and existing investors Mercury Fund, KEC Ventures, Royal Street Ventures, and Aspen Capital Group also participated in the round.
Aclaimant was founded on the belief that organizations can reduce their cost of risk while providing a safe environment for employees. Its platform is designed to help organizations actively manage risk while improving the claims management process. The company caters to multiple industries, including construction, manufacturing, staffing, real estate, and hospitality. According to Aclaimant, the company’s monthly active users in the platform and system usage increased by over 400% in 2020.
“Since our founding, we’ve strongly believed that organizations can reduce their cost of risk while providing a safer environment for employees. With safety as a key priority for organizations in today’s landscape, this commitment is as strong as ever. We’re proud of the trust and respect we’ve earned in the industry, and we’re looking forward to bringing our innovative products to the mass market with the help of our investor partners.” – David Wald, CEO and co-founder of Aclaimant.
“David and the Aclaimant team have built an unbelievable platform and assembled the right team to tackle this opportunity. Together, they are bringing much-needed innovation to the risk management and insurance space subsisting of old, outdated technologies. Aclaimant is empowering risk managers to take control of their systems, data and processes. Aclaimant is the future of active risk management. The legacy players shouldn’t have all the fun. This is about empowering every company to take active risk management into their own hands and to truly improve their organizations from the inside out.” – Thomas Ball, Partner, NextCoast Ventures.
The senior management team, including co-founders Wald, Joel Friedman, and Michael Schultz, will continue to lead the company. As part of the round, Thomas Ball (Partner at Next Coast Ventures) will join the company’s board as a director, Kathy Burns (Chief Digital Officer at Ryan Speciality) will join the company’s board as an independent director, and Adam Rogers will join the company’s board as an observer.