Collection C funding spherical led by Forte Ventures to speed up development
— Evident CEO David Thomas
ATLANTA, GEORGIA, USA, September 26, 2022 /EINPresswire.com/ — Evident, a number one supplier of automated third-party insurance coverage verification and credentialing providers for enterprises, at the moment introduced it has closed a $14 million Collection C financing spherical. This spherical of funding was led by Forte Ventures with participation from new buyers Gaingels and Strawberry Creek Ventures, an Alumni Ventures fund, and present buyers together with New Enterprise Associates, Facet Ventures, Blue Cloud Ventures, Lane Bess, and Tom Noonan.
“Third-party networks are rising quicker and extra advanced, rising danger whereas making administration much more troublesome,” mentioned David Thomas, founder and CEO of Evident. “Evident’s insurance coverage verification resolution helps danger managers seeking to scale back danger of their third-party networks and to take action with extra accuracy, velocity and visibility. And our automated, SaaS strategy is revolutionary for these utilizing pricey and error-prone home-grown techniques or conventional service suppliers.”
Evident supplies complete certificates of insurance coverage (COI) verification and credentialing providers in order that enterprises throughout industries could scale back their third-party danger and enhance compliance charges. Evident’s safe platform extracts and digitizes knowledge from COIs and proof of all sorts, and supplies the preliminary verification in addition to ongoing monitoring to detect adjustments and automate danger decisioning. Evident’s clients embody class leaders in grocery, retail, comfort shops, manufacturing, lending and transportation.
“Since their inception, Evident has sought to vary the dialog round third-party danger by way of automated verification,” mentioned Tom Hawkins, founder and managing accomplice of Forte Ventures. “We’re significantly enthusiastic about the important thing strategic relationships they’ve fashioned,, and the way that enhances our funding technique of collaborating with company and strategic buyers.”
Earlier this yr, Evident introduced key product milestones that permit for automation of greater than 90% of the insurance coverage verification course of together with doc knowledge extraction, verification decisioning, compliance remediation, and insured re-engagement. As well as, this yr Evident has engaged in a number of strategic partnerships, together with, amongst others, Vouch Insurance coverage centered on options for startups and NEXT Insurance coverage, connecting enterprise clients’ distributors with a direct strategy to buy the precise protection they want.
“As the biggest investor community centered on corporations that worth numerous management, together with LGBTQIA+,” mentioned Managing Director Lorenzo Thione “Gaingels is proud to assist Evident’s development and their efforts to construct a tradition that displays the range of its govt groups, employees and clients.”
“Our buyers have been instrumental to Evident’s development and continued improvements,” Thomas continued. “We’re excited and humbled to work with such nice companions and look ahead to the continued development that their assist will allow our workforce to perform.”
Danger managers focused on studying extra helpful trade insights from Evident can click on right here to obtain their analysis report, The State of Third-Celebration Insurance coverage Verification. Evident executives might be attending ITC Vegas this week. Please use [email protected] if you need to fulfill with Evident on the occasion.
Evident is the one fully-automated, fully-digital insurance coverage verification resolution constructed from the bottom as much as scale back enterprise danger, spend, and handbook effort. The world’s largest organizations depend on Evident’s game-changing insurance coverage verification and credentialing expertise to assist them make quick and knowledgeable choices about participating new distributors, suppliers, franchises, and different third-party companions with out compromising their knowledge privateness. Evident is a VC-backed expertise startup, headquartered in Atlanta, GA. Be taught extra at www.evidentid.com
About Forte Ventures
With workplaces in Atlanta and Silicon Valley, Forte Ventures is a multi-stage enterprise capital agency that collaborates and co-invests with company strategic companions in expertise corporations all through the U.S. and Canada. The workforce concurrently focuses on serving to entrepreneurs navigate the complexities of company funding and on serving as trusted companions to institutional and company strategic syndicate companions. For extra data, go to www.forteventures.com