Reserv, the tech-enabled TPA, has stretched its Series B to $41 mn after pulling in another $16 mn to meet investor demand. QBE Ventures led the extension, with new strategic partners joining and existing backers like Bain Capital Ventures and Flourish Ventures taking part.
Investor appetite follows a burst of growth over the past six months: demand from carriers, alignment with fresh strategic players, and Reserv’s position in the fast-expanding AI-for-claims space.
The cash will accelerate its roadmap for AI orchestration at scale — an effort the company says will redefine how claims are run.
Annual recurring revenue has already crossed $75 mn. Headcount stands north of 500 across global offices. Adoption of modern dev tools is rapid.
That mix gives Reserv the ability to handle claims solutions for carriers across the size spectrum, from regional outfits to top-tier global insurers.
QBE’s move signals a bet on modernization. The insurer plans to leverage Reserv’s claim rollover technology, platform tools, and TPA services.
Both companies are also scoping complex US claims segments that look overdue for reinvention. Todd Greeley, QBE North America’s Chief Claims Officer, said Reserv’s platform felt like the missing “end-to-end insight engine” for better outcomes.
Reserv CEO CJ Przybyl pointed to the speed of tech advancement since the company’s launch three years ago. He framed Reserv’s custom software stack, data model, and operating model as the reasons it’s outpacing incumbents in both the TPA and claims software markets.
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.
CJ Przybyl, CEO of Reserv
“Our software is now becoming the gold standard in claims for some of the world’s largest carriers,” CJ Przybyl said.
James Orchard, CEO of QBE Ventures, cast the partnership as part of QBE’s ambition to position itself as an innovative risk partner. He said Reserv’s scaled AI deployment sets it apart: smarter claims, faster turnaround, and deeper reporting across the lifecycle.
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.
Todd Greeley, Chief Claims Officer for QBE North America
“We’re looking forward to bringing our industry expertise and capabilities together to lead the market,” says Todd Greeley, Chief Claims Officer for QBE North America.
“Partnering with Reserv aligns our ambition to our vision to be an innovative risk partner,” added James Orchard, CEO of QBE Ventures.
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.
James Orchard, CEO of QBE Ventures
More than 100 clients already use Reserv. The message from this latest round: carriers, MGAs, and self-insureds see tangible value in shifting claims operations into Reserv’s model. The extra $16M makes sure that growth story doesn’t slow down anytime soon.
Reserv is an AI-native third-party administrator (TPA) and software provider for property and casualty insurance. Purpose-built by claims and technology veterans, Reserv delivers tech-forward claims handling at scale, enabling insurers to drive down loss costs, streamline operations, and improve the customer experience.
