NEW YORK–(BUSINESS WIRE)–Reserv, Inc., a tech-enabled third-party administrator (TPA), announced today that its oversubscribed series B round has been extended to accommodate demand, with an additional $16M raised – bringing the total Series B round to $41M. Reserv’s substantial growth in the last six months, coupled with its strong alignment with several new strategic investors and substantial new customer demand for Reserv products, was a key driver of investor momentum. The additional funding was led by QBE Ventures and included additional new strategic partners and pro-rata participation from existing investors such as Bain Capital Ventures, Flourish Ventures, and more. The strategic capital injection will be used to accelerate Reserv’s roadmap for AI orchestration at scale, to define a new standard for intelligent claims operations and management.
QBE’s investment underscores a shared vision of accelerating claims modernization by combining modern data architecture, decades of claims experience, and cutting-edge AI to improve outcomes for partners, claimants, and claims team members. QBE plans to leverage Reserv’s patent-pending claim rollover technology, software platform tools, and TPA services to enhance claims outcomes. The pair also plans to begin exploring complex claims areas ripe for re-invention in the US market.
The series B extension follows substantial growth for Reserv, which has established itself as a scaled and trusted claims partner for over 100 clients. With ARR already eclipsing $75M, over 500 global employees, and the rapid adoption of modern coding development tools, Reserv is uniquely placed to provide claim solutions to carriers of any size.
“We are excited to partner with QBE to expand our global footprint and proposition,“ said CJ Przybyl, CEO of Reserv. “Technology and development tools have advanced rapidly since we started Reserv three years ago. We are fortunate to have a unique software stack, data model, and scaled operating model that is enabling us to substantially outpace the incumbent TPA and software platform providers. Our software is now becoming the gold standard in claims for some of the world’s largest carriers.”
“We’ve been looking for an end-to-end insight engine to deliver better claims outcomes for QBE customers and partners. Reserv stood out with their modern claims platform built by, and for, claims professionals. We’re looking forward to bringing our industry expertise and capabilities together to lead the market,” says Todd Greeley, Chief Claims Officer for QBE North America.
“Partnering with Reserv aligns our ambition to our vision to be an innovative risk partner,” added James Orchard, CEO of QBE Ventures. “What makes Reserv outstanding is their thoughtful and meaningful deployment of AI at scale across the entire lifecycle of claims management. Together, we are accelerating a future where claims are faster, smarter, and more reportable than ever before.”
This funding further highlights how leading insurance carriers, MGAs, self-insureds, and other partners are realizing value by working with Reserv to transform their claims and underwriting outcomes. To learn more about partnering with Reserv, contact [email protected].
About Reserv
Reserv is an AI-native third-party administrator (TPA) and software provider for property and casualty insurance. Purpose-built by claims and technology veterans, Reserv delivers tech-forward claims handling at scale, enabling insurers to drive down loss costs, streamline operations, and improve the customer experience. Learn more at www.reserv.com.
About QBE Ventures
QBE Ventures is the venture capital arm of QBE Insurance Group, focused on investing in and partnering with early-stage technology companies that aim to reshape the insurance industry. QBE Insurance Group is one of the world’s leading international insurers and reinsurers, operating in 27 countries. Committed to innovation and operational excellence, QBE partners with customers and ecosystems globally to manage risk and navigate complexity.
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