The extension was led by QBE Ventures alongside new strategic partners, with pro-rata participation from existing investors including Bain Capital Ventures and Flourish Ventures.
The funding follows a period of rapid growth for Reserv, which now supports more than 100 clients worldwide. The company reports annual recurring revenue of over $75 million and a global workforce of more than 500 employees. The new capital will accelerate Reserv’s development of large-scale AI orchestration and strengthen its position as a technology-driven third-party administrator (TPA).
QBE’s participation reflects a shared vision of using data, technology, and AI to modernize claims management. The insurer plans to leverage Reserv’s patent-pending claim rollover technology and TPA services to enhance outcomes for customers and partners in the US market. The two firms also intend to explore complex claims areas ripe for innovation.
“We are excited to partner with QBE to expand our global footprint and proposition,” said CJ Przybyl, CEO and Co-founder of Reserv. “Our unique software stack, data model, and scaled operating model are enabling us to substantially outpace incumbent TPAs and software providers. Our software is becoming the gold standard in claims for some of the world’s largest carriers.”
Todd Greeley, Chief Claims Officer for QBE North America, said: “We’ve been looking for an end-to-end insight engine to deliver better claims outcomes. Reserv stood out with its modern claims platform built by, and for, claims professionals. We look forward to combining our expertise to lead the market.”
James Orchard, CEO of QBE Ventures, added: “Partnering with Reserv aligns with our ambition to be an innovative risk partner. What makes Reserv outstanding is its thoughtful deployment of AI at scale across the entire lifecycle of claims management. Together, we are accelerating a future where claims are faster, smarter, and more reportable than ever before.”
Reserv’s latest raise underscores increasing demand from carriers, MGAs, and self-insureds seeking to modernize claims operations and improve efficiency.
