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§ Private Profile · Chicago, IL, USA
Snapsheet is a technology company.
Snapsheet has raised $102.2M across 7 funding rounds.
Key people at Snapsheet.
Snapsheet has raised $102.2M in total across 7 funding rounds.
Snapsheet is an insurance technology company that provides claims management software and platforms designed to streamline the claims process for insurance companies.
Snapsheet is an insurance technology company specializing in claims management software that automates and streamlines the insurance claims process using AI, cloud-based platforms, and no-code configurability.[1][2][3] It serves property and casualty (P&C) insurance carriers, third-party administrators (TPAs), managing general agents (MGAs), and insurtechs by providing tools for virtual appraisals, digital payments, workflow automation, and unified claim views, solving pain points like outdated systems, slow cycle times, high costs, and poor customer experiences.[1][2][3][4] The platform reduces operational costs by up to 15%, speeds up processing, and improves engagement for personal and commercial lines, with adoption by 16 of the top 20 P&C carriers and over 70 others globally.[1][4][7]
Snapsheet's growth momentum is strong, backed by over $100 million in venture capital from investors like Nationwide, Liberty Mutual, and Intact Ventures, and partnerships with 72+ entities including Socotra for rapid product launches.[7] Its configurable solutions enable effortless implementation in 90 days or less, allowing carriers to customize workflows without code, optimize adjuster time, and integrate with AI, telematics, and IoT data.[2][3][6][7]
Snapsheet originated in 2011 as BodyShopBids, a mobile app born from co-founder Russ Campfield's personal experience: after a fender bender and job layoff, he created a tool for consumers to virtually shop for car repair appraisals via photo-based estimating.[1][5] This simple idea proved transformative for auto claims, sparking early buzz and proving that intelligent automation could reduce friction while empowering claims experts.[1][5]
By 2013, the company rebranded to Snapsheet, refining its focus and expanding beyond estimates into full claims management, including appraisals, digital payments, and comprehensive systems.[1][7] Pivotal moments include securing venture funding, building trust with top carriers (now 16 of top 20), and evolving into a cloud-based platform that handles complex, multi-party claims across lines of business.[1][7]
Snapsheet rides the insurtech wave of digital transformation in insurance, where outdated, resource-heavy claims tech gives way to AI-driven automation amid rising claims volumes from climate events, telematics data explosion, and customer demands for speed.[2][3][6][7] Timing is ideal as P&C carriers face pressure for lower costs and better engagement post-pandemic, with Snapsheet's cloud-native, API-flexible platform enabling 10-week product launches via partnerships like Socotra.[7]
Market forces like regulatory complexity, vendor proliferation, and IoT integration favor its configurable, scalable solutions, influencing the ecosystem by setting standards for virtual claims—handling everything from photos to payments—and providing aggregate data insights that carriers leverage for dynamics analysis.[1][7][9] As a Chicago-based leader, it drives efficiencies in auto and beyond, helping 70+ carriers modernize without overhauls.[4][8]
Snapsheet is poised to expand its platform dominance with deeper AI integrations, broader line-of-business support, and ecosystem growth, capitalizing on insurtech consolidation and rising CAT claims.[3][7] Trends like real-time data from telematics/IoT and regulatory automation will amplify its edge, potentially capturing more market share as carriers prioritize low-touch, high-accuracy processing.[2][9]
Its influence may evolve toward full insurtech orchestration, powering next-gen products for emerging risks while maintaining the "Snapsheet Way" of outcome-focused innovation—transforming claims from friction points to trust-builders, much like its photo-estimating origins revolutionized auto repairs.[1][5]
Snapsheet has raised $102.2M across 7 funding rounds. Most recently, it raised $30.0M Series E in March 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Mar 25, 2021 | $30M Series E | Donald Lacey, Akbar Poonawala | Commerce Ventures, Intact Ventures, Liberty Mutual, Nationwide, Tola Capital | Announced |
| May 1, 2019 | $29M Series E | Tola Capital | Ayana Capital LLC, Glilot Capital Partners, F Prime Capital, Liberty Mutual Strategic Ventures, Nationwide, OCA Ventures, Sedgwick, State Auto Labs Fund, USAA | Announced |
| May 1, 2017 | $12M Series D | Tola Capital | Glilot Capital Partners | Announced |
| Dec 1, 2016 | $20M Series C | Benjamin Malka, IA Capital Group | Energy Capital Ventures, Greylock, HV Capital, IVP, Matrix, Tony Florence, Trinity Ventures, Fosun 复星, Intact Ventures, Liberty Mutual Strategic Ventures, Michael Smith | Announced |
| Dec 1, 2013 | $10M Series B | — | Energy Capital Ventures, Greylock, HV Capital, IVP, Matrix, Tony Florence, Trinity Ventures | Announced |
| Jan 5, 2012 | $1M Series A | JIM Dugan | Lightbank, Jeffrey Maters | Announced |
| Jun 1, 2011 | $230K Series A | — | Lightbank | Announced |
Snapsheet has raised $102.2M in total across 7 funding rounds.
Snapsheet's investors include Donald Lacey, Akbar Poonawala, Commerce Ventures, Intact Ventures, Liberty Mutual, Nationwide, Tola Capital, AYANA Capital LLC, Glilot Capital Partners, F-Prime Capital, Liberty Mutual Strategic Ventures, OCA Ventures.
Key people at Snapsheet.
