A Bay Area company specializing in providing intelligent automation solutions to the insurance industry has netted a significant funding round as the investment community continues to back RPA and intelligent automation. Santa Clara, Calif.-based Ushur has secured $25 million in Series B funding it says will enable the cloud-based software provider to accelerate sales and marketing for its no-code automation solutions for insurers.
With mammoth back-office claims processing burdens and robust interaction with customers through call centers, the insurance sector is one that has embraced RPA. One study expects RPA spend in the industry to nearly triple from $184 million last year to around $634 million in 2024.
Ushur specializes in enabling insurers to convert high-touch phone calls and costly physical mail to digital experiences using automation.
“They’re right at the intersection of some of the biggest developments in enterprise software,” said Robert Schwartz, managing partner at Third Point Ventures, the firm leading the investment round. “Automation that feels personal yet delivers tremendous efficiencies to the enterprise. No-code design that allows customers to get to deployment and benefit easily and incredibly fast. Customer experiences that actually favor the customer. And they’re doing an incredible job with execution.”