Insurtech startup Stream Claims, specializing in AI-powered medical document review for workers’ compensation, sequred $5.3 mn in seed funding.
Spark Capital led the round, with additional backing from Acrew Capital, TTV Capital, Sam Hodges (Vouch Insurance co-founder), and Mike Rosengarten (former CTO of OpenGov). This brings the company’s total funding to $6.8 mn.
Stream was founded by Eric Yen and Eilam Levitov, two worker’s comp industry veterans who saw first-hand how much time, money, and effort was being wasted by manually reviewing billions of documents each year.
They assembled a team of engineers, product designers, medical and legal experts, and worker’s comp professionals to create tools that streamline document processing, and improve outcomes for claimants, insurers, physicians, and lawyers.
Founded in 2022, Stream Claims offers tools to streamline medical record processing and extract critical insights. The platform includes three main products: Chrono, Chrono+, and Sift.
Chrono is a real-time document processing tool that lets clients upload and organize medical records, review AI-generated summaries, and customize outputs.
Chrono+ provides detailed medical chronologies within 72 hours after PDF uploads. Sift helps reduce redundant information in records, minimizing unnecessary paperwork and lowering costs.
Stream Claims introduces AI solutions specifically designed for the unique needs of workers’ compensation (WC). Trained on over 1mn pages of WC records, Stream’s models deliver precise results, ensuring accuracy and clarity.
- Expert-Validated Summaries. Each AI-generated summary undergoes review by an in-house team of MDs, nurses, lawyers, and claims adjusters. This ensures the content meets professional standards before reaching clients.
- Clear and Concise. Stream transforms hundreds of pages into easy-to-understand summaries, providing just the right amount of detail without overwhelming you with information.
- Real-Time Accuracy. Stream’s Chrono and Sift tools give you real-time, high-quality results, helping you take control of your operations with precision and speed.
In a statement, the company said it will use the new capital to strengthen product development and customer success teams.
With this new capital, we’re doubling down on our product and customer success teams, ensuring we deliver even more value to our customers. In 2025, we plan to further enhance our AI-driven platform, making it more powerful and adaptable to the evolving needs of the workers’ compensation industry.
“Stream continues to grow as an in-person team with headquarters in San Francisco. We’re passionate about meeting our clients face-to-face and understanding their challenges. Our mission is to help workers’ compensation professionals work smarter and faster, and we’re always looking for top talent to join us on this journey”, says team.
by Peter Sonner
