Three years ago, we knew virtually nothing about insurance accounting. After years of helping build Asana and Brex, Michael and I decided to take the leap and build something together. While we planned to create software for business problems we ourselves experienced, the problems weren't as big as they seemed and existing solutions weren’t as bad as we thought. We came to the observation that Silicon Valley didn't need more software for itself.
We started learning about insurance. We were stunned by the reams of paper, droves of spreadsheets, and time spent copying information between PDFs and legacy tools. The accounting workflows were particularly fascinating – premium payments passing between multiple intermediaries, each repeating similar manual reconciliation processes. Everyone in the industry knew about these challenges, but the common refrain was, "no one has solved it yet."
That combination of an unsolved problem and our naive, wide-eyed optimism led us to wonder: "What if we could crack this?" What's happened since then has far exceeded our wildest expectations. Industry leaders at firms like IMA Financial and The Baldwin Group took a chance on us, trusting us with their teams' biggest challenges. Together, we've automated the reconciliation of billions of dollars, giving back over 350,000 hours to teams by eliminating 90% of their manual work while re-centering jobs in the U.S., reversing years of offshoring while achieving significant cost savings.
Our partners' excitement was contagious. As their teammates reclaimed hours each day, they started asking whether we could solve adjacent problems, creating a virtuous cycle that now drives our roadmap and vision.
Today, we're announcing our $20M Series B. We're honored to partner with BOND, a highly respected enterprise software growth investor, and Workday Ventures, the investment arm of the platform that has become the operational backbone for many of our customers. Both firms deeply understand the opportunity to transform the back office of insurance, and we're thrilled to have their strategic guidance and partnership as we tackle this extraordinary opportunity.
With this new funding, we'll accelerate our vision to empower teams by abstracting away the manual work that has burdened the insurance back office for decades, while continuing to be guided by the uniquely close customer partnerships that have defined our journey from day one.
Growing up, neither of us ever dreamed of building insurance software. However, driving deep impact for people and organizations, earning their trust as a close partner, and modernizing a core industry should be worth dreaming about. To customers who took time to teach us, our team who dove into these complex challenges, and our newest partners to bet on us – thank you for giving us this opportunity. There's so much work to do, and we’re just getting started.
We're also hiring across the board!
