# Sprout.ai

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

- Industry: Financial Services
- Headquarters: London, UK
- Website: www.sprout.ai
- Total disclosed funding: $15M
- Latest round: Series A (Feb 23, 2021)
- Investors on record: 4

## About

Sprout.ai Limited, based in the UK, specializes in AI-driven claims automation and fraud detection solutions for insurance providers, enhancing their operational efficiency and customer service capabilities.Sprout.ai Limited was founded in 2018 and is headquartered in London, UK. The company provides AI-powered solutions designed to streamline insurance claims processes. Recently, on October 5, 2023, Sprout.ai raised GBP 5.57 million in funding, co-led by Praetura Ventures and Amadeus Capital Partners, among other investors, which has contributed to a post-money valuation of GBP 21.41 million. The company's CEO is Roi Amir, who has a background in technology and entrepreneurship, although specific previous ventures are not detailed.Sprout.ai specializes in AI-powered claims automation and fraud detection solutions tailored for insurance providers worldwide. Their core product leverages advanced artificial intelligence to streamline the claims process, enabling insurers to deliver fast and accurate claims decisions. This system caters to personal, commercial, and specialty lines of insurance, allowing Sprout.ai to serve a diverse clientele effectively. The company empowers insurers to settle over 60% of claims in real-time, achieving a remarkable accuracy rate of 96%. Sprout.ai operates across multiple geographical markets, including North America, Europe, and parts of Asia, reflecting their global reach.Sprout.ai generates revenue primarily through B2B transactions with insurance providers that integrate their AI-driven solutions into existing operations. Their business model includes subscription-based pricing structures, allowing clients to access a suite of services including claims automation and fraud detection capabilities. This model fosters seamless transaction flows where clients pay for technology based on usage or subscription tiers, enhancing the scalability of their services and reinforcing long-term client relationships.In October 2023, Sprout.ai raised GBP 5.57 million in venture funding to enhance their go-to-market strategy, drive geographic expansion, and invest in product development and AI. The company plans to launch new products aimed at further automating the claims process and increasing operational efficiency for insurers. They are also targeting expansion into new markets in North America and Europe by the end of 2024, leveraging recent funding to support these initiatives and enhance their competitive position in the insurance technology landscape.

## Funding rounds

- Series A, Feb 23, 2021, $11M — Amadeus Capital Partners, Techstars, Playfair Capital, Octopus Investments
- Seed, Feb 7, 2020, $2.9M — Amadeus Capital Partners, TechStars, Techstars, Playfair Capital
- Seed, Jun 17, 2019, $0.6M — Amadeus Capital Partners
- Seed, Oct 17, 2018, $0.5M — Amadeus Capital Partners

## Investors

- Amadeus Capital Partners (https://capitalatlas.ai/funds/amadeus-capital-partners) — Seed, Series A
- TechStars (https://capitalatlas.ai/funds/techstars) — Seed, Series A
- Playfair Capital (https://capitalatlas.ai/funds/playfair-capital) — Seed, Series A
- Octopus Investments (https://capitalatlas.ai/funds/octopus-investments) — Series A