Reserv, Inc., a tech-enabled third-party administrator (TPA), announced an extension to its Series B funding round, raising an additional $16 million to bring the total to $41 million, with QBE Ventures leading the new investment.
The additional capital was secured due to substantial growth over the past six months, strong alignment with new strategic investors, and increased customer demand for Reserv’s products. The funding will be directed towards accelerating Reserv’s roadmap for AI orchestration at scale, aiming to establish a new standard for intelligent claims operations and management.
QBE Ventures, the venture capital arm of global insurer QBE Insurance Group, led the latest investment. This move underscores a shared vision between Reserv and QBE to modernize claims processing through a combination of modern data architecture, extensive claims experience, and artificial intelligence to improve outcomes for partners, claimants, and claims team members. QBE plans to integrate Reserv’s patent-pending claim rollover technology, software platform tools, and TPA services to enhance its own claims outcomes and will explore complex claims areas in the US market with Reserv for potential reinvention.
Reserv has established itself as a claims partner for over 100 clients. The company reports annual recurring revenue (ARR) exceeding $75 million and employs over 500 individuals globally. Reserv utilizes modern coding development tools to provide claims solutions to carriers of various sizes.
CJ Przybyl, CEO of Reserv, commented on the partnership, stating, “We are excited to partner with QBE to expand our global footprint and proposition. 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.”Todd Greeley, Chief Claims Officer for QBE North America, articulated the insurer’s interest: “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.”James Orchard, CEO of QBE Ventures, added, “Partnering with Reserv aligns our ambition to our vision to be an innovative risk partner. 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.”The funding extension also included pro-rata participation from existing investors such as Bain Capital Ventures and Flourish Ventures, alongside other new strategic partners. This investment highlights a trend where leading insurance carriers, MGAs, self-insureds, and other partners are leveraging Reserv to transform claims and underwriting outcomes. Reserv identifies itself as an AI-native third-party administrator and software provider specializing in property and casualty insurance, focused on delivering tech-forward claims handling to reduce loss costs, streamline operations, and enhance customer experience.
