ClaimScore: Revolutionizing Claim Validation with AI Technology
April 20, 2024, 3:31 am
Location: United States, New Jersey, Pompton Lakes
Employees: 1-10
Founded date: 2022
Total raised: $3.15M
ClaimScore, a groundbreaking provider of AI-based real-time claim validation software, has secured a significant $3.15 million in seed funding led by ROC Venture Group. This investment marks a pivotal moment for ClaimScore as it continues to disrupt the legal industry with its innovative approach to identifying fraud in class action cases.
ROC Venture Group, known for backing early-stage technology ventures, recognized the unique value proposition that ClaimScore brings to a niche market plagued by fraudulent claims. With fraud present in a staggering 99% of consumer class action cases, the need for accurate fraud detection is more critical than ever. ClaimScore's cutting-edge technology boasts an impressive 98.5% accuracy rate in identifying fraudulent claims, helping companies avoid a staggering $340 million in fraudulent payouts.
The oversubscribed seed funding round, which exceeded expectations by $1.15 million, will fuel ClaimScore's growth and operational expansion. The company's focus remains on enhancing its offerings for law firms, in-house counsel, and claims administrators, streamlining the claims validation process and ensuring transparency in legal proceedings.
Founded in 2022 by a trio of industry veterans, including President Donald Beshada, CEO Bob Gallo, and Bryan Heller, ClaimScore brings a wealth of experience and expertise to the table. With backgrounds in class action litigation, entrepreneurship, and AI technology, the founders are well-equipped to drive ClaimScore's success in the competitive legal tech landscape.
Bob Gallo, CEO of ClaimScore, expressed enthusiasm about the partnership with ROC Venture Group, emphasizing the company's commitment to combating fraudulent claims with advanced AI algorithms. By prioritizing legitimate claims and expediting the validation process, ClaimScore aims to revolutionize the legal industry and set new standards for efficiency and transparency.
As ClaimScore continues to make waves in the legal tech sector, its latest funding round signals a bright future ahead. With a mission to eradicate fraud and streamline claims processing, ClaimScore is poised to make a lasting impact on the legal community, delivering unparalleled value and innovation in the realm of claim validation.
ROC Venture Group, known for backing early-stage technology ventures, recognized the unique value proposition that ClaimScore brings to a niche market plagued by fraudulent claims. With fraud present in a staggering 99% of consumer class action cases, the need for accurate fraud detection is more critical than ever. ClaimScore's cutting-edge technology boasts an impressive 98.5% accuracy rate in identifying fraudulent claims, helping companies avoid a staggering $340 million in fraudulent payouts.
The oversubscribed seed funding round, which exceeded expectations by $1.15 million, will fuel ClaimScore's growth and operational expansion. The company's focus remains on enhancing its offerings for law firms, in-house counsel, and claims administrators, streamlining the claims validation process and ensuring transparency in legal proceedings.
Founded in 2022 by a trio of industry veterans, including President Donald Beshada, CEO Bob Gallo, and Bryan Heller, ClaimScore brings a wealth of experience and expertise to the table. With backgrounds in class action litigation, entrepreneurship, and AI technology, the founders are well-equipped to drive ClaimScore's success in the competitive legal tech landscape.
Bob Gallo, CEO of ClaimScore, expressed enthusiasm about the partnership with ROC Venture Group, emphasizing the company's commitment to combating fraudulent claims with advanced AI algorithms. By prioritizing legitimate claims and expediting the validation process, ClaimScore aims to revolutionize the legal industry and set new standards for efficiency and transparency.
As ClaimScore continues to make waves in the legal tech sector, its latest funding round signals a bright future ahead. With a mission to eradicate fraud and streamline claims processing, ClaimScore is poised to make a lasting impact on the legal community, delivering unparalleled value and innovation in the realm of claim validation.