Westhill Global, a technological firm with a focus on providing a comprehensive digital solution for managing post-property-claim repairs, has recently publicised the successful acquisition of a preferred funding round worth $13.5m.
This round was guided by a notable strategic investor, marking a significant achievement for the company.
The recent funding has drawn contributions from both new and pre-existing investors, including Eos Venture Partners, Luge Capital, and NYCA Partners. Westhill has been carving out a strong position for itself in the $50bn managed repair market. The company facilitates property owners in linking up with top-tier contractors to expedite the recovery process after property damage, simultaneously reducing costs for insurance carriers.
At its core, Westhill Global revolutionises the property & casualty insurance industry with its unique digital solutions. By leveraging smart technology, the firm bridges the gap between insurance carriers, contractors, and policyholders. This approach removes inefficiencies from the claim process, offering customers a choice, while maintaining a business model rooted in transparency and shared value.
The latest funding influx will be channelled towards driving the exceptional growth of Westhill and providing customers and partners with new features and enhancements. This aims to smooth the property claims and repair experience, bolstering the company’s pathway towards profitability.
In spite of the economic challenges that 2022 presented, Westhill has managed to see record growth, a testament to its resilience and strong business model.
Kevin Reilley, CEO of Westhill, expressed his excitement over the funding, stating, “This funding confirms that our new and existing investors believe that we are solving key problems in the journey to get property owners back to normal after suffering a property loss.” He emphasised their commitment to offer the best customer experience and highlighted their focus on expanding relationships with top insurance carriers and building their team.
Jonathan Kalman, Founding General Partner at Eos Venture Partners, who previously led the Series A investment in Westhill in 2019, also expressed his excitement over Westhill’s proven value in the market. He anticipates further innovation and expansion in the property repair space with the additional investment.
This new funding comes on the back of the Series A investment led by Eos Venture Partners in 2019, further augmenting the company’s financial stability and growth trajectory.
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