Reserv lands $125 million KKR round to scale AI claims platform

Reserv’s latest raise is less a routine insurtech check and more a bet that claims handling can be rebuilt as an AI-native operating model. The company said it closed a $125 million Series C led by KKR on May 4, giving it fresh fuel to scale a platform that already handles roughly 500,000 complex claims a year and aims to reach 30 million in annual capacity over the next four years.

That ambition lands differently because Reserv is not pitching software alone. Founded in 2022 and operational by May 2022, the company says it now serves nearly 200 insurers, corporate captives, MGAs, and brokers, with more than 500 claims adjusters on staff and about $100 million in annual recurring revenue. For a business that still describes itself in technology terms, that headcount tells the real story: Reserv is trying to sell a combined software and service stack, not a thin layer of automation on top of the old claims process.

The company’s Glance platform sits at the center of that pitch. Reserv says Glance pulls historical and live claims data into a single database and uses fully explainable AI, with clients able to choose between fully automated handling for simpler files and more assisted workflows for complex matters. Reserv also says it operates claims teams across North America, the United Kingdom, and the EU, and that it can process all types of P&C claims while helping customers retire legacy systems within weeks. That is a direct challenge to the fragmented stacks many carriers and MGAs still live with, where manual entry, disconnected tools, and slow handoffs remain standard.

KKR’s backers are signaling that this looks bigger than a niche platform play. Partner Patrick Devine said Reserv had delivered faster and better quality outcomes for customers in a way that was “truly differentiated” in the market. Principal Elliot Bell said the management team combines the kind of innovation, agility, and operational sophistication needed to scale against legacy claims handling. Existing investors Bain Capital Ventures and Flourish Ventures also joined the round, alongside select strategic partners and clients.

The new capital builds on Reserv’s $25 million Series B in June 2025, led by Flourish Ventures, which brought total funding to $55 million at the time. It also reflects the background of co-founders CJ Przybyl and Martha Dreiling, whose careers span claims operations and venture-backed insurtech, including Snapsheet, Rhino, and OnDeck. That mix may be the point. The disruption here is not just the AI itself, but the combination of AI, data plumbing, and a service layer built to replace the old claims operating model altogether.