# Koop Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/koop-technologies

- Industry: Insurance
- Headquarters: Pittsburgh, US
- Website: www.koop.ai
- Total disclosed funding: $5.7M
- Latest round: Seed (Jun 26, 2023)
- Investors on record: 6

## About

Based in the US, Koop Technologies, Inc. specializes in compliance automation through an AI-powered platform, enabling organizations to meet regulatory requirements efficiently and cost-effectively.Founded in 2019 and headquartered in Pittsburgh, US, Koop Technologies, Inc. provides an AI-driven compliance automation platform. The firm has successfully secured three investment deals, with its most recent funding round occurring on October 10, 2023, when it raised USD 1.29 mn in Seed funding from Kia and Hyundai Motor Company, among others. The total amount raised to date is USD 1.29 mn, leading to a current company valuation of USD 16.56 mn. The company is led by CEO Sergey Litvinenko, who along with co-founders Jim Duan and Kamron Khodjaev, has a background in technology and compliance solutions.Koop offers a comprehensive compliance automation platform designed to facilitate adherence to various regulatory standards, including SOC 2, ISO 27001, HIPAA, and GDPR. The core product is an AI-powered solution that automates up to 95% of compliance tasks, significantly reducing manual labor and associated costs. This platform serves a diverse clientele, including startups, scaling businesses, and enterprise-level organizations across multiple sectors such as Aerospace, Healthcare, Manufacturing, and Fintech. Customers utilize Koop's services to enhance their security posture, streamline compliance processes, and manage insurance requirements, thereby fostering growth and facilitating market entry into regulated industries. The platform is marketed primarily in North America, Europe, and Asia, targeting organizations that face stringent compliance demands and seek an efficient, unified approach to managing compliance, security, and insurance needs.Koop generates revenue primarily through subscription-based pricing models tailored to different business needs. The Starter Plan, aimed at early-stage startups, starts at USD 467 per month, while the Growth Plan for scaling businesses is offered at USD 700 per month. An Enterprise Plan is available with customized solutions, and pricing is determined on a case-by-case basis. Revenue transactions typically involve businesses subscribing to the platform for ongoing compliance management and insurance services. By integrating compliance frameworks with robust productivity features, Koop delivers a streamlined experience that enhances customer trust and accelerates deal closures. The company's offerings are structured to provide significant value to its clients, as evidenced by its focus on facilitating compliance certifications and securing necessary insurance coverage in a consolidated manner.In October 2023, following its latest funding round, Koop Technologies, Inc. plans to utilize the USD 1.29 mn raised to enhance the adoption of robotics-based products and services and to expand its team. The company is also looking to launch new products aimed at improving automation in compliance processes and aims to penetrate new geographic markets, including targeted expansion into Europe and Asia by late 2024.

## Funding rounds

- Seed, Jun 26, 2023, $3.2M — Bee Partners, Fusion Fund, WestWave Capital, Ubiquity Ventures, Sure Ventures, AlleyCorp
- Seed, Aug 5, 2021, $2.5M — Bee Partners, WestWave Capital, Ubiquity Ventures, Sure Ventures

## Investors

- Bee Partners (https://capitalatlas.ai/funds/bee-partners) — Seed
- WestWave Capital (https://capitalatlas.ai/funds/westwave-capital) — Seed
- Ubiquity Ventures (https://capitalatlas.ai/funds/ubiquity-ventures) — Seed
- Sure Ventures (https://capitalatlas.ai/funds/sure-ventures) — Seed
- Fusion Fund (https://capitalatlas.ai/funds/fusion-fund) — Seed
- AlleyCorp — Seed