# Owl.co

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/owl-co

- Industry: Software
- Headquarters: Vancouver, Canada
- Website: www.owl.co
- Total disclosed funding: $39M
- Latest round: Series B (Sep 1, 2021)
- Investors on record: 10

## About

Owl.co, based in Vancouver, Canada, specializes in enhancing the insurance claims process through enterprise AI solutions, focusing on operational efficiency and decision-making accuracy in the sector.Owl.co provides innovative AI-driven solutions for the insurance claims industry. Founded by Sohrab Merat and Vahid Mirjalili, the company has received USD 30 mn in Series B funding on September 1, 2021, led by Cota Capital, with participation from several investors. The company operates out of Vancouver, BC, Canada, and has successfully closed 4 deals to date, focusing on providing technology that enhances claims processing.Owl.co specializes in providing enterprise AI solutions tailored for the insurance claims sector, focusing on enhancing operational efficiency and decision-making accuracy. Their core offerings include advanced document-processing technology, generative AI tools, and machine learning capabilities designed to streamline the claims process. These tools enable insurance teams to quickly extract critical data from various documents, summarize information, respond to custom queries, and generate comprehensive reports. The company's solutions are aimed at large insurance carriers, helping them deliver fair outcomes, mitigate fraud risks, and improve overall customer service. Owl.co's products are marketed primarily in North America and select regions in Europe, catering to a diverse client base that includes insurance adjusters, legal teams, and claims professionals who seek to enhance their workflows and improve claimant interactions.Owl.co's revenue is generated through a subscription-based model, where clients pay for access to their suite of AI-driven solutions and services. This transaction structure allows organizations to integrate Owl.co's technology into their existing claims processes seamlessly. Customers typically enter into annual agreements, which include tiered pricing based on the scale of usage and specific product suites selected. The flagship offerings, including OwlVision, OwlAssist, and OwlSignal, are designed to be modular, enabling clients to choose the most relevant tools for their operational needs. This approach not only facilitates a robust revenue stream for Owl.co but also fosters long-term relationships with its clients, as organizations benefit from continuous updates and enhancements to their selected services.In September 2021, Owl Labs Inc. raised USD 30 mn in Series B funding, led by new investor Cota Capital, to scale its insurance claims monitoring platform and expand its team. The company plans to leverage this funding to develop new products aimed at enhancing claims processing efficiency and to target expansion into new markets within Europe by 2023, reaching a wider client base in the insurance sector.

## Funding rounds

- Series B, Sep 1, 2021, $30M — Fuse Capital, Sorenson Capital, Plug and Play, Impression Ventures, Cota Capital, Luge Capital
- Series A, Oct 1, 2020, $7M — Fuse Capital, Plug and Play, Impression Ventures, Luge Capital, N49P
- Seed, Aug 2, 2019, $2M — Inovia Capital, Plug and Play, Sway Capital, Impression Ventures, Builders VC, Luge Capital

## Investors

- Inovia Capital (https://capitalatlas.ai/funds/inovia-capital) — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Seed, Series A, Series B
- Sway Capital (https://capitalatlas.ai/funds/sway-capital) — Seed
- Impression Ventures (https://capitalatlas.ai/funds/impression-ventures) — Seed, Series A, Series B
- Builders VC (https://capitalatlas.ai/funds/builders-vc) — Seed
- Luge Capital (https://capitalatlas.ai/funds/luge-capital) — Seed, Series A, Series B
- Fuse Capital — Series A, Series B
- N49P (https://capitalatlas.ai/funds/n49p) — Series A
- Sorenson Capital (https://capitalatlas.ai/funds/sorenson-capital) — Series B
- Cota Capital (https://capitalatlas.ai/funds/cota-capital) — Series B