Precedent, a Charlotte, NC-based digitized demand handling technology company, raised $9M in Seed funding.
The round was led by Adir Ventures. As part of the investment, Barry Karfunkel of Adir will join Precedent’s Board of Directors and will serve as the Chairman of the Board.
The company intends to use the funds to bring its suite of products to more insurers as well as broaden and accelerate new product development.
Led by President CEO Grant Little, Precedent works to streamline the communication processes between attorneys and insurance carriers. Using technology in Artificial Intelligence (AI), Machine Learning (ML), and Large Language Models (LLM) the company empowers carriers with the tools they need to systematically manage their attorney repped injury claims.
The technology integrates with carriers existing document ingestion processes and can proactively push the extracted intelligence into core claim systems, injury evaluation software, and litigation management systems.
The Seed financing follows Precedent’s launch in late 2022 and initial traction among Property and Casualty carriers in the United States. The company is also adding and expanding partnerships with the major claims management, injury evaluation, and core systems platforms.
FinSMEs
15/06/2023