Chicago-based insurance company Snapsheet has secured $28 million in Series E funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced May 20 and led by Tola Capital.
According to its Crunchbase profile, "Snapsheet delivers the best claims experiences globally. We provide unmatched technology and processes that improve customer engagement, provide organizational agility and realize real transformational benefits for more than 75 clients around the world. This is accelerated by how we continuously learn from and evolve our data-driven technology which improves analytics and decision-making across the entire claims process."
The nine-year-old company has raised four previous funding rounds, including a $12 million Series D round in 2017.
The round brings total funding raised by Chicago companies in financial services over the past month to $58 million, and increase of $51 million from the month before. The local financial services industry has seen 47 funding rounds over the past year, raking in a total of $805 million in venture funding.
In other local funding news, retail and service industry company The Small Exchange announced a $10 million seed funding round on May 16.
According to Crunchbase, "The Small Exchange conducts more participants to financial markets with simpler and smaller futures products. The company creates a future exchange to execute the trading of proprietary products for all types of market participants, with a focus on the public retail customer. It enables traders access to exclusive products that will develop new trading opportunities for investors of all sizes."
The company also raised a $10 million seed round earlier this year.
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