SproutAI secures £2m seed funding from Amadeus Capital Partners, Playfair Capital and Techstars
Amadeus Capital Partners leads the seed round to support international expansion and team growth.
SproutAI is a London claims automation platform that uses artificial intelligence to streamline insurance processing. The company was previously known as BlockClaim.
SproutAI has secured £2m in a seed funding round led by Amadeus Capital Partners, with participation from Playfair Capital and Techstars. The capital will be directed towards growing the science and engineering team, scaling sales operations, and entering the US market.
Formerly known as BlockClaim, the firm applies natural language processing and optical character recognition to enrich insurance claims with real-time web data. Leadership notes that the current economic climate is expected to heighten demand for operational efficiency among insurers.
Amadeus Capital Partners returns as an investor, citing the firm's potential to navigate the challenges posed by distributed workforces and increased claim volumes. SproutAI aims to integrate smoothly with existing legacy IT infrastructure.
From the founder
"Amadeus Capital Partners has shown confidence in our future by backing us again,"
Niels Thoné
CEO at SproutAI
Investor perspective
"Now more than ever, insurers will be looking at operational savings and efficiency gains,"
Amelia Armour
Partner, Amadeus Capital Partners
Use of funds
- 01Grow the team
- 02Expand into international markets
- 03Invest in sales and marketing
