owl.co Raises $30M in Series B Funding

owl.co, a North American provider of an insurance claims monitoring platform, raised $30M in Series B funding.

The round, which brought overall funding to $40m, was led by Cota Capital with participation from Sorenson Ventures, FUSE, Impression Ventures, Luge Capital and Plug and Play Ventures.

The company intends to use the funds to scale its insurance claims monitoring platform and expand its team, increasing its full-time staff in the U.S. and Canada by 20% before the end of 2021, with additional hiring planned for 2022.

Led by Sean Merat, CEO, owl.co provides an insurance claims monitoring platform that enables insurance providers to stop unwarranted claim payments, release reserves, and adjust expenses, helping keep premiums down, ultimately saving consumers money. The system automatically detects significant losses from malingering, exaggerated, or non-eligible claims.

Founded in 2018, the company has offices in Vancouver, B.C., Toronto, New York and Seattle.