Insurtech Startup With Claims Monitoring Platform Raises $30M

Labs Inc. raised $30 million in new venture capital. Many plans are in play to spend the cash infusion, including hiring, and accelerated growth plans for the company's machine learning-focused insurance claims monitoring platform. "By leveraging machine learning to automate and remove bias from the process, we are blazing the trail to a future where nobody pays for fraud," Sean Merat, co-founder and CEO of owl.co, said in prepared remarks. The technology involves a secure, evidence-based insurance claims monitoring platform that owl.co claims has greater due diligence at scale, while removing human bias from the detection process. With machine learning, owl.co automates the claims monitoring process.