Korr raises $3.2 million

Korr, an insurance startup offering a cloud-based operating system for claims processing and policy administration, has raised $3.2 million in seed funding led by Motive Ventures along with Tokio Marine Future Fund, and Plug and Play Ventures.

Founded in 2021 and based in NYC, Korr’s platform is “specifically crafted” to reduce switching costs and enable carriers to convert their historical data to the cloud.

“We started Korr two years ago with the thesis that cloud-native architecture and innovation will drive positive change in insurance, particularly in the post-COVID workplace and marketplace. We have invented a forward-thinking product that drives competitive advantage, cutting legacy costs and constraints, and converting decades of historical data out-of-the-box. We continue to execute on our vision, building Korr on AWS along with our early corporate design partners.” – Gregory Ritchie, CEO and founder of Korr.