Iconiq, Kleiner Perkins Back Insurance Claims Startup Assured at $1 Billion Valuation
(Bloomberg) -- Assured Insurance Technologies Inc., a startup focused on automating insurance claims using artificial intelligence, raised equity funding in a round that values the company at about $1 billion, according to people with knowledge of the matter.
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Iconiq Capital and Kleiner Perkins participated in the round, said one of the people, all of whom asked not to be identified discussing confidential information.
A representative for Assured didn't immediately respond to requests for comment. A representative for Kleiner declined to comment, while a representative for Iconiq said the information was 'inaccurate,' but declined to comment further.
Assured, co-founded by Chief Executive Officer Justin Lewis-Weber and Chief Technology Officer Theo Patt, is backed by investors including KKR & Co. and venture capital firms Global Founders Capital, Costanoa Ventures and DCM, its website shows. The company's platform processes homeowners, auto, commercial property and workers' compensation insurance claims, among others, on behalf of insurers.
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