Socotra Raises $50M in Series C Funding
- Socotra, an Austin, TX-based provider of a core platform for insurers to accelerate product development, raised $50M in Series C funding
- The round, which brought total funds raised to date to $96m, was led by Insight Partners
- The company provides an insurance technology platform, which allows global insurers and insurtech MGAs to accelerate product development
- The company provides open APIs, a product-agnostic data model, and out-of-the-box capabilities to manage the entire policy lifecycle
- The company now powers dozens of different insurance products for insurers across three continents
- Customers include major carriers like AXA, Mutual of Omaha, Symetra, MS Amlin, and IAG, as well as leading insurtech MGAs such as Hippo and Bamboo Insurance
