# EvolutionIQ

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/evolutioniq

- Industry: Software
- Headquarters: New York, US
- Website: www.evolutioniq.com
- Total disclosed funding: $31M
- Latest round: Series B (Dec 22, 2022)
- Investors on record: 12

## About

Based in New York, US, and founded in 2019 by Michael Saltzman and Tomas Vykruta (CEO), DeepFraud Technologies Inc., aka EvolutionIQ, operates as a provider of a decision intelligence platform for streamlining the claim process. In December 2024, CCC Intelligent Solutions, a portfolio company of Oak Hill Capital, TCV, and Advent International, acquired EvolutionIQ Inc. for USD 730 million.

EvolutionIQ assists examiners by offering predictive support throughout the STD process, including Advance Pay and Close processes, smart triage to tailored examiner groups on intake, and daily updated time expectations for every case. EvolutionIQ helps TPAs boost income while reducing client losses by analyzing total claims exposure in real-time and delivering per-claim ideas for value-added services.

## Funding rounds

- Series B, Dec 22, 2022, $7M — Foundation Capital, Principal Financial Group, First Round Capital, FirstMark Capital, Brewer Lane Ventures
- Series A, Mar 16, 2022, $21M — Foundation Capital, First Round Capital, Guardian Life Insurance, FirstMark Capital, Sedgwick Claims Management Services, Inc., Delphi Financial Group, NYL Ventures, Brewer Lane Ventures, Asymmetric Venture Capital, Altai Ventures
- Seed, Jun 7, 2019, $3.1M — Foundation Capital, First Round Capital, FirstMark Capital, Plug and Play

## Investors

- Foundation Capital (https://capitalatlas.ai/funds/foundation-capital) — Seed, Series A, Series B
- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Seed, Series A, Series B
- FirstMark Capital (https://capitalatlas.ai/funds/firstmark-capital) — Seed, Series A, Series B
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed
- Guardian Life Insurance — Series A
- Sedgwick Claims Management Services, Inc. — Series A
- Delphi Financial Group — Series A
- NYL Ventures (https://capitalatlas.ai/funds/nyl-ventures) — Series A
- Brewer Lane Ventures (https://capitalatlas.ai/funds/brewer-lane-ventures) — Series A, Series B
- Asymmetric Venture Capital (https://capitalatlas.ai/funds/asymmetric-venture-capital) — Series A
- Altai Ventures (https://capitalatlas.ai/funds/altai-ventures) — Series A
- Principal Financial Group — Series B