Flourish Ventures leads round with participation from BCV, Altai Ventures, and Accenture Ventures
NEW YORK, June 4, 2025 /PRNewswire/ — Reserv, Inc., a tech-enabled third-party administrator (TPA) experiencing hypergrowth, today announced the completion of its $25 million Series B funding round. The oversubscribed round, led by Flourish Ventures with full pro-rata participation, also included Accenture Ventures, bringing Reserv’s total funding to $55 million.
Reserv combines the best of a traditional TPA – experienced adjusters, managers, and scale – with flexible, modern technology that enables better performance and better reporting. The company has achieved triple-digit year-over-year revenue growth for two consecutive years.
Since its founding in 2022, Reserv has quickly emerged as the leader of the next-generation tech-enabled TPAs, having grown to more than 350 employees in the United States and United Kingdom. Reserv supports more than 80 MGA clients and 20 carriers across nearly all property and casualty lines of business, including commercial auto, business owners’ policy, general liability, professional lines, medical malpractice, and more.
Customers choose Reserv because it is reliable, efficient, and offers a best-in-class experience for claimants and adjusters. In addition to the latest innovative technology like agentic AI, automated communications, and a tight feedback loop, Reserv has built transformative capabilities unmatched by others.
One example is Reserv’s automated rollover technology ingests data from legacy TPAs and incumbent systems and maps it to the Reserv platform automatically, reducing the typical data migration timeline from over 9 months to under two weeks. In so doing, Reserv structures unstructured data such as emails and file notes and reconciles financials to the penny, enabling unprecedented visibility — with minimal cost.
Gallagher Re’s Q1 2025 Global InsurTech Report highlighted how Reserv’s AI-driven tools, such as the claim severity model and claim summarization tool, drive massive efficiency in claims processing.
“Executives hear a lot of noise around AI. ‘The platform should be AI native’ or ‘an AI sidekick is more optimal’, ‘focus on communications’, ‘focus on compliance’,” said CJ Przybyl, CEO and co-founder of Reserv, “You won’t often hear us speaking so absolutely. We scale quickly, assess our weaknesses, and build solutions to solve our problems in a direct partnership with our customers. A great example of this is our rollover technology. No startup would pitch this idea to a VC as a scalable stand-alone business, but it has been an enabler of our scale—and building it strengthened our LLMs and data science while forging strong feedback loops between platform engineers and adjusters.”
“Reserv has demonstrated exceptional progress in a remarkably short period,” said Emmalyn Shaw, Co-founder and Managing Partner at Flourish Ventures, a leading global fintech VC firm. “They’ve successfully built modern infrastructure for an industry traditionally reliant on legacy systems, and their data-driven approach is delivering real value to carriers, MGAs, and ultimately, the policyholders they serve.”
With the investment from Accenture Ventures, Reserv joins their Project Spotlight Investments, which connects enterprise clients and emerging technology poised to solve industry-defining challenges.
“Insurance claims processing remains at the core of the customer promise and ripe for end-to-end reinvention and disruption,” Kenneth Saldanha, senior managing director and Accenture’s North America Insurance lead. “Reserv’s platform empowers insurers to act on more granular claims data for greater efficiency and accuracy, enabling faster claim processing and better customer experience. The feedback loop to risk selection and more competitive pricing drives greater resilience in the market.”
Reserv applies the same modern, tech-native philosophy to everything in the company, including its own infrastructure – from HR to compliance, to ensure accuracy and efficiency while scaling a licensed and substantiable TPA. Reserv’s flexible technology stack partners seamlessly with multiple vendors, including multiple LLM vendors, to provide accurate, efficient and unique solutions tailored to carriers’ needs.
The Series B funding will primarily be used to build enhanced claims automation models, accelerated integrations, and develop net-new non-claim modules that leverage the vast dataset of Reserv’s TPA arm. These evolutions will bring demonstrable enhancements to customers and claimants’ experience, as well as to Reserv’s best-in-class adjuster tools. To find out more please email sales@reserv.com.
About Reserv
Reserv is a tech-enabled and data-driven solution closing massive gaps in the insurance claims process, removing burdens for users for any property and casualty claim. Founded by industry veterans Martha Dreiling and CJ Przybyl in 2022, the company is backed by Altai Ventures, Bain Capital Ventures, Flourish Ventures, and others. Reserv has raised $55M to date and has 320 employees in the US and the UK. Reserv has been appointed a Delegated Claims Administrator (DCA) by Lloyd’s of London, named one of CB Insights’ Top 50 Most Promising Insurtechs of 2024, and awarded “Best Newcomer” by the British Insurance Awards. For more information about Reserv, visit https://www.reserv.com.
About Flourish
Flourish Ventures is an $850M global early-stage venture firm investing in entrepreneurs reshaping financial systems for the better. Our global portfolio spans 100+ companies across the U.S. and emerging markets, including pioneering fintechs such as Alloy, Brico, Chime, Clerkie, Flutterwave, Kin, Mantl, M2P, Neon, ShopUp, Skipify, Spade, and Unit. We also champion entrepreneurs shaping policy, media, and research to accelerate lasting change in financial services.
SOURCE Reserv