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Venture Capital
FINANCE | Investment Firms & Funds
brewerlane.com

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Investments

16

Funds

1

About 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

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Brewer Lane Ventures Web Traffic

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Brewer Lane Ventures Rank

Latest Brewer Lane Ventures News

EvolutionIQ Raises $21 Million Series A To Deliver AI Based Claims Guidance Across The Industry

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.

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Brewer Lane Ventures Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/30/2022

Seed VC - II

January Technologies

$10M

Yes

1

3/30/2022

Series A

EvolutionIQ

$21M

Yes

4

3/15/2022

Series B

Cowbell Cyber

$100M

No

26

2/3/2022

Series B

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$99M

Subscribe to see more

10

1/25/2022

Series A

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$99M

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10

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

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Amount

$10M

$21M

$100M

$99M

$99M

New?

Yes

Yes

No

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Subscribe to see more

Co-Investors

Sources

1

4

26

10

10

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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