Investments
16Funds
1About Brewer Lane Ventures
Brewer Lane Ventures partners with entrepreneurs focused on creating new business models, empowering incumbents, and leveraging insights from data and analytics.
Brewer Lane Ventures Headquarter Location
374 Congress St., #500
Boston, Massachusetts, 02110,
United States
508-414-9070
Brewer Lane Ventures Web Traffic
Brewer Lane Ventures Rank
Latest Brewer Lane Ventures News
Apr 14, 2022
Deep learning platform delivers comprehensive, continuous analysis of risk within claims blocks EvolutionIQ, the most rapidly adopted Claims Guidance platform amongst insurance carriers, announced that it raised $21M in Series A funding. The round was led by Brewer Lane Ventures, with participation from all major seed investors, including FirstRound Capital, FirstMark Capital and Foundation Capital, and new participation from Altai Ventures and Asymmetric Capital Partners. Industry-leading strategic investors including Reliance Standard Life, New York Life Ventures, Guardian Life and Sedgwick, a leading global risk, benefits, and integrated solutions company have also joined the round. “We’ve proven that deep learning, an advanced branch of machine learning, is the future of claim handling, and now we’ll be able to deliver even more to our carriers,” says Tomas Vykruta, CEO of EvolutionIQ and former Artificial Intelligence Technical Leader at Google. “Claims management is ripe for modernization. It’s the biggest operational issue plaguing carriers because it’s a huge human effort that can be greatly improved using data. Tens of thousands of claims are open at any given time and there is a significant opportunity to impact them now with the right information.” EvolutionIQ actively monitors every open claim to guide frontline operators to those that require more attention, new actions, or complex decision-making. Insurance carriers and third party administrators using EvolutionIQ report increased claim capacity and lower claim cost. Those using the software for over a year saw loss ratio reductions of up to 3.3 percent and claim flow-through reductions of up to 45 percent directly attributable to EvolutionIQ. “We build both the core AI technology and the delivery application that work together to seamlessly enable carrier claims staff to operate at maximum impact across the claims inventory. Our partners deliver a better, and lower cost insurance product to their policyholders because of the accuracy, speed and scale of a claims organization powered by EvolutionIQ,” said Michael Saltzman , EvolutionIQ’s COO. Using EvolutionIQ, an often-overwhelmed claims adjuster who may have hundreds of complex cases active at a time is able to understand short-term disability, long-term disability, workers comp, and property & casualty claims better, identify the most actionable opportunities, and quickly see the results with the system recalibrating daily based on new data or events. EvolutionIQ’s applications require minimal carrier IT resources, adhere to strict security standards, and typically produce full insights within two weeks. “At Brewer Lane, we believe in investing in the people and companies that are redefining financial services,” says John Kim, Founder & Managing Partner of Brewer Lane Ventures. John Kim started Brewer Lane after serving as President and Chief Investment Officer of New York Life. “EvolutionIQ is modernizing claims organizations to be competitive in the 21st century – and the results their clients are seeing are truly staggering. It’s a solution that has been long sought after. The existing systems are antiquated, and we pride ourselves on backing companies like EvolutionIQ who build platforms that transform industries.” The funding will largely be used to expand the engineering, data science, product, and customer success teams who are responsible for the company’s growth, including the development of new AI modules. Today, over 25 percent of EvolutionIQ’s technical employees come from Google, which is rare for companies in the insurance industry.
Brewer Lane Ventures Investments
16 Investments
Brewer Lane Ventures has made 16 investments. Their latest investment was in January Technologies as part of their Seed VC - II on March 3, 2022.
Brewer Lane Ventures Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
3/30/2022 | Seed VC - II | January Technologies | $10M | Yes | IA Ventures, Reciprocal Ventures, Third Prime Capital, Tribe Capital, and Undisclosed Angel Investors | 1 |
3/30/2022 | Series A | EvolutionIQ | $21M | Yes | Altai Ventures, Asymmetric Capital Partners, First Round Capital, FirstMark Capital, Foundation Capital, Guardian Life Insurance Company of America, New York Life Ventures, Reliance Standard, Sedgwick, and Undisclosed Investors | 4 |
3/15/2022 | Series B | Cowbell Cyber | $100M | No | 26 | |
2/3/2022 | Series B | |||||
1/25/2022 | Series A |
Date | 3/30/2022 | 3/30/2022 | 3/15/2022 | 2/3/2022 | 1/25/2022 |
---|---|---|---|---|---|
Round | Seed VC - II | Series A | Series B | Series B | Series A |
Company | January Technologies | EvolutionIQ | Cowbell Cyber | ||
Amount | $10M | $21M | $100M | ||
New? | Yes | Yes | No | ||
Co-Investors | IA Ventures, Reciprocal Ventures, Third Prime Capital, Tribe Capital, and Undisclosed Angel Investors | Altai Ventures, Asymmetric Capital Partners, First Round Capital, FirstMark Capital, Foundation Capital, Guardian Life Insurance Company of America, New York Life Ventures, Reliance Standard, Sedgwick, and Undisclosed Investors | |||
Sources | 1 | 4 | 26 |
Brewer Lane Ventures Fund History
1 Fund History
Brewer Lane Ventures has 1 fund, including Brewer Lane Ventures Fund I.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
4/22/2020 | Brewer Lane Ventures Fund I | Early-Stage Venture Capital | Open | $120M | 4 |
Closing Date | 4/22/2020 |
---|---|
Fund | Brewer Lane Ventures Fund I |
Fund Type | Early-Stage Venture Capital |
Status | Open |
Amount | $120M |
Sources | 4 |
Brewer Lane Ventures Team
3 Team Members
Brewer Lane Ventures has 3 team members, including current Founder, Managing Partner, John Kim.
Name | Work History | Title | Status |
---|---|---|---|
John Kim | Founder, Managing Partner | Current | |
Martha Notaras | XL Innovate, DMG Information, Time, Merrill, and Credit Suisse | Managing Partner | Current |
Rohan Malhotra | General Partner | Current |
Name | John Kim | Martha Notaras | Rohan Malhotra |
---|---|---|---|
Work History | XL Innovate, DMG Information, Time, Merrill, and Credit Suisse | ||
Title | Founder, Managing Partner | Managing Partner | General Partner |
Status | Current | Current | Current |
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