San Francisco based insurance core platform has raised $5.2m in incremental Series A financing from 8VC, Nationawide, and MS&AD Ventures.
Socotra is the industry’s first cloud-native platform with open configuration and APIs, empowering insurers to deploy powerful backend technology with their own engineering resources or the systems integrator of their choice. Socotra provides the core technologies upon which innovative personalized insurance products can be built. Socotra’s agility, flexibility, reliability, and modern design offer carriers lower costs, faster product releases, and easy integration with future technologies. “The insurance industry is experiencing a technology revolution, and the winners will not be powered by today's legacy technologies,” said Jon Soberg, managing partner, MS&AD Ventures. “Socotra has built the most complete productized SaaS platform in the market, and they have a world class engineering team. We’re excited to contribute to Socotra’s continued success.”