Tech-focused TPA Reserv raises $125m in Series C round

Reserv, a tech-enabled third-party head (TPA), has raised $125m successful a Series C backing circular to heighten AI-powered security claims.

The backing circular was led by KKR, with existing backers Bain Capital Ventures and Flourish Ventures besides taking portion alongside selected partners and clients.

Set up successful 2022, the institution provides TPA services and exertion to astir 200 insurers, firm captives, managing wide cause (MGAs) and brokers.

According to the company, yearly recurring gross has reached $100m arsenic it expands its platform.

Reserv has a workforce of much than 500 claims adjusters and has accrued its claims handling capableness by much than 2 times each year.

The caller backing from funds and accounts managed by KKR is expected to enactment further increases successful assertion capacity, from 500,000 analyzable claims a twelvemonth astatine contiguous to 30 cardinal implicit the adjacent 4 years.

It said this would make capableness to grip and automate a important stock of the spot and casualty marketplace successful non-field-based commercialized claims.

The company’s Reserv Glance level allows customers to transportation humanities and unfastened claims of immoderate standard into a azygous database.

It past applies afloat explainable AI to reappraisal and respond to captious claims, portion expanding some human-led and automated workflows.

The institution said it operates successful a “post-AI” environment, wherever the latest AI tools are instantly production-ready and integrated into the platform.

Reserv co-founder and CEO CJ Przybyl said: “We started this institution to beryllium however seamless claims processing could beryllium if exertion wasn’t the bottleneck – with ongoing diagnostic improvement alternatively of changeless strategy overhauls. And our absorption is not conscionable connected claims processing tools, but automation of the full organisation.

“Reserv has present reached a standard – successful claims processing capacity, exertion velocity, information accumulation and radical translation capabilities – wherever we tin automate adjacent the astir analyzable claims.”

In September 2025, Reserv announced its oversubscribed bid B circular with an further $16m raised – bringing the full Series B circular to $41m.

"Tech-focused TPA Reserv raises $125m successful Series C round" was primitively created and published by Life Insurance International, a GlobalData owned brand.

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