Series A31 October 2023

Sprout.ai secures £5.4m from Amadeus Capital Partners and Praetura Ventures to expand AI claims automation

The investment was led by Amadeus Capital Partners and Praetura Ventures to drive international expansion and product development.

£5.4MSeries A

Sprout.ai provides AI-led insurance claims automation technology designed to increase operational efficiency and reduce handling costs. The company works with global insurance partners to extract data, cross-check policies, and conclude claims rapidly.

Sprout.ai has secured £5.4m in a funding round co-led by Amadeus Capital Partners and Praetura Ventures. The capital will be deployed to accelerate product innovation, drive international expansion into new territories such as North America, and extend the company uses of generative AI for claims automation.

Additional participants in the round include Capricorn Capital Partners, Forefront Venture Partners, Verstra Ventures, Portfolio Ventures Angel Fund, Octopus Ventures, Playfair, and Techstars. The financing arrives as the global claims processing software market experiences significant growth projections.

From the founder

"We process thousands of claims globally with our solution every day and millions of policyholders receive fast and accurate decisions as a result. This investment will enable us to grow further into international markets and continue to invest in our AI-led product to drive towards our vision to ‘Make every claim better‘."

Roi Amir

CEO at Sprout.ai

Investor perspective

"We’ve backed Sprout.ai since its seed stage and our latest investment shows the confidence we have both in the company’s commercial offering and the team’s ambition. Insurance claim handling is a huge global market that is ripe for automation to improve efficiency and accuracy. We’re excited to see the product now make it onto the international stage."

Amelia Armour

Partner, Amadeus Capital Partners