Reserv, a technology-driven third-party administrator (TPA), has closed a $25 mn Series B funding round led by Flourish Ventures, with continued support from previous investors and new participation from Accenture Ventures. This round increases Reserv’s total funding to $55 mn.
Founded in 2022, Reserv has expanded rapidly, now employing over 350 people in the U.S. and the U.K.
The company serves more than 80 managing general agents and 20 insurance carriers across multiple property and casualty lines, including commercial auto, BOP, general liability, professional lines, and medical malpractice. It has delivered triple-digit revenue growth for two consecutive years.
Reserv’s platform combines experienced claim professionals with advanced technology that improves claim handling and reporting.
One of its key tools, automated rollover technology, transfers and structures unorganized data from legacy systems in less than two weeks — a process that typically takes over nine months.
It processes emails, notes, and financial data with full reconciliation, improving visibility and reducing costs.
Gallagher Re’s Q1 2025 Global InsurTech Report recognized Reserv’s AI-based tools, such as the claim severity model and summarization engine, as major contributors to claim processing efficiency.
The system includes features such as agentic AI, automated communications, and feedback mechanisms between users and engineers.
CEO CJ Przybyl highlighted that Reserv focuses on solving practical problems in direct collaboration with clients. Rather than promoting AI for its own sake, the company integrates tools that deliver measurable performance gains.
Przybyl cited rollover automation as an example that supports growth and strengthens Reserv’s large language models and internal data pipelines.
Executives hear a lot of noise around AI. ‘The platform should be AI native’ or ‘an AI sidekick is more optimal’, ‘focus on communications’, ‘focus on compliance’
“You won’t often hear us speaking so absolutely. We scale quickly, assess our weaknesses, and build solutions to solve our problems in a direct partnership with our customers. A great example of this is our rollover technology. No startup would pitch this idea to a VC as a scalable stand-alone business, but it has been an enabler of our scale—and building it strengthened our LLMs and data science while forging strong feedback loops between platform engineers and adjusters,” said CJ Przybyl.
The funding will support expanded claims automation, faster system integrations, and the development of new modules beyond claims management.
These improvements aim to enhance experiences for insurers, adjusters, and policyholders. Reserv’s modular infrastructure also connects with external vendors, including multiple LLM providers, enabling flexible solutions aligned with insurer requirements.
Emmalyn Shaw, Managing Partner at Flourish Ventures, noted that Reserv is delivering tangible value by modernizing legacy infrastructure.
Kenneth Saldanha of Accenture emphasized that granular claims data and faster processing contribute to better customer service and help insurers optimize risk selection and pricing.
Reserv applies its tech-first approach throughout its operations, including HR and compliance, as it scales its licensed and data-intensive TPA platform.
Now part of Accenture’s Project Spotlight, the company gains additional opportunities to engage with enterprise clients facing structural challenges in insurance operations.
