Gradient AI raises $6 million in Series A
Cambridge-based enterprise software provider Gradient AI announced it has raised $6 million in a Series A round led by Forte Ventures and Sandbox Insurtech Ventures. The round also includes participation from Gradient’s existing investor MassMutual Ventures.
Established in 2018, The Gradient platform offers a proprietary dataset comprised of “tens of millions” of claims, which is complemented with several economic, health, and litigation datasets to allow commercial insurers to automate and improve underwriting results, reduce claim costs, and improve operational efficiencies.
“The Gradient platform helps our customers’ claims and underwriting teams make better decisions more efficiently, which allows our customers to write more profitable business, minimize claims, and improve the profitability of their book.” – Gradient’s CEO Stan Smith.
Finally, Gradient’s platform delivers fully automated integration into customers’ own claims and underwriting platforms via API, thus enabling automated claims workflows and straight-through processing of policy applications.