Socotra is the industry’s first cloud-native backend with open configuration and APIs, empowering insurers to deploy powerful backend technology with their own engineering resources. With customers on three continents ranging from startups to Fortune 500 global businesses, Socotra enables carriers to achieve new levels of agility throughout the policy lifecycle (single or multi-line, life or P&C, commercial or retail). Socotra’s agility, flexibility, reliability, and modern design offers carriers lower costs, faster product releases, and easy integration with future technologies. “8VC’s founding vision is to support big technology leaps for big industries,” said Lonsdale. “Insurance is one of the world’s largest industries, and Socotra has the strongest team I’ve seen in the space and is building an advanced platform to power the future of the industry. We’re excited to be part of the impact Socotra is already beginning to have.”

https://globenewswire.com/news-release/2018/09/24/1575013/0/en/Startup-Socotra-Closes-Nearly-6-Million-Series-A-with-8VC-to-Modernize-Insurance-Technology.html