Aclaimant bags $10m for its Series A round which was led by Mercury Fund

Aclaimant, which improves the safety and risk management workflows, has secured $10m in its Series A, bringing its total equity raised to $13m.

The company’s latest funding round was led by Mercury Fund and received additional support from Royal Street Ventures, EBSCO Capital, KEC Ventures, RRE Ventures and Aspen Capital Group.

With the fresh capital boost, the company hopes to accelerate its client acquisition and sales, as well as deepening its marketing and partnerships. Furthermore, the company will invest into product innovation and enhancements focused on data, compliance and design.

Aclaimant is looking to hire more staff across its entire team.

The company closed its seed round back in 2017 on $2.9m.

Aclaimant is an insight-driven workflow solution for safety and risk management. Its product is used by the construction, real estate, staffing and hospitality industries. In addition to reducing risk, the platform helps to streamline insurance claims and lower costs.

Mercury Fund managing director Adrian Fortino said, “The future of the insurtech and risk management industry has a lot to benefit from increased use of automated workflows and enhanced user experience.

“We’re excited to partner with Aclaimant and help them capitalize on this incredible opportunity. In this time of COVID-19, we are now in uncharted territory for the enterprise. A complete risk management workflow platform like Aclaimant is critical for both the ‘back-to-work’ dynamic and the post COVID focus on corporate risk management and tracking.”

In line with the investment, Fortino will join the Aclaimant board of directors, alongside Royal Street Ventures managing director Laura Brady.

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