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Sprout.ai

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AI powered Claims Automation & Fraud Filtering for Insurance

London, United KingdomFounded 2018Fintech

Valuation <$5M Last recorded · 2024

Revenue <$1M Latest reported FY

Headcount <100 Current team size

Total funding $10–50M Disclosed equity funding

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About Sprout.ai

Sprout.ai, formerly known as BlockClaim, is a company that has developed an advanced claims automation software powered by artificial intelligence. The company primarily serves the insurance industry, providing solutions for personal, commercial, and specialty lines of insurance. Its core technology is designed to streamline and improve the entire claims process, from initial filing to final settlement. By leveraging AI, Sprout.ai helps insurers to reduce claim handling times, improve the accuracy of claim assessments, and detect potential fraud more effectively.

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The business model is centered around providing its software as a service (SaaS) to insurance companies. This allows clients to integrate Sprout.ai's technology into their existing workflows, enhancing their operational efficiency and customer service. The company has successfully raised a total of $20.2 million in funding over four rounds, with the backing of 32 investors, indicating strong market confidence in its technology and business strategy.

Source: Dealroom company data