Socotra Overview
- Year Founded
-
2014
- Status
-
Private
- Employees
-
164
- Latest Deal Type
-
Series C
- Latest Deal Amount
-
$50M
- Investors
-
31
Socotra General Information
Description
Developer of a cloud-native insurance core platform designed to bring proven speed, agility, and efficiency to carriers, insurers, and MGAs (managing general agents) in the industry. The company's platform offers technology and standardized, public, open APIs to create and update rules and rates that reflect evolving guidelines, and provides a product-agnostic data model, and out-of-the-box capabilities to manage the entire policy lifecycle, making insurance innovation faster, easier, and more affordable, enabling insurance companies to accelerate product development, reduce maintenance costs, and improve customer experiences.
Contact Information
Website
www.socotra.comCorporate Office
- 1401 Lavaca Street
- Austin, TX 78701
- United States
Corporate Office
- 1401 Lavaca Street
- Austin, TX 78701
- United States
Socotra Timeline
Socotra Valuation & Funding
| Deal Type | Date | Amount | Raised to Date | Post-Val | Status | Stage |
|---|---|---|---|---|---|---|
| 5. Later Stage VC (Series C) | 14-Mar-2022 | $50M | Completed | Generating Revenue | ||
| 4. Later Stage VC (Series B1) | 01-Mar-2021 | Completed | Generating Revenue | |||
| 3. Later Stage VC (Series B) | 23-Jan-2020 | Completed | Generating Revenue | |||
| 2. Early Stage VC (Series A) | 24-Sep-2018 | $16.6M | $18.6M | Completed | Generating Revenue | |
| 1. Seed Round | 22-Sep-2014 | $1.97M | $1.97M | Completed | Startup |
Socotra Cap Table
| Stock | # of Shares Authorized |
Par Value | Dividend Rate (%) | Original Issue Price |
Liquidation | Liquidation Pref. Multiple |
Conversion Price | % Owned |
|---|---|---|---|---|---|---|---|---|
| Series C | ||||||||
| Series B-2 | ||||||||
| Series B-1 | ||||||||
| Series B | 12,639,495 | $0.001000 | $0.13 | $1.61 | $1.61 | 1x | $1.61 | 14.46% |
| Series A | 21,574,413 | $0.001000 | $0.71 | $0.71 | 1x | $0.71 | 24.69% |
VC Exit Predictor
See how our proprietary methodology utilizes historical data sets to synthesize the likelihood of an acquisition, IPO, or no exit event. Get a detailed look at the calculations behind our predictions.
Opportunity Score
Calculated using Exit Type probabilities, the company’s stage, and PitchBook’s historical returns data.
Exit Type
Evaluates the likelihood of a successful exit for investors, and the most likely exit type.
Socotra Comparisons
Industry
Financing
Details
Socotra Competitors (36)
One of Socotra’s 36 competitors is Vertafore, a Formerly PE-Backed company based in Denver, CO.
| Company Name | Financing Status | Location | Employees | Total Raised | Last Financing Date/Type | Last Financing Amount |
|---|---|---|---|---|---|---|
| Vertafore | Formerly PE-Backed | Denver, CO | ||||
| Insuresoft | Corporate Backed or Acquired | Tuscaloosa, AL | ||||
| Aisus | Accelerator/Incubator Backed | Bolivar, MO | ||||
| Keylane | Private Equity-Backed | Utrecht, Netherlands | ||||
| Ventiv Technology | Private Equity-Backed | Atlanta, GA |
Socotra Related Research & Analysis
Explore institutional-grade private market research from our team of analysts.
-
Verticals
Socotra Patents
Socotra Recent Patent Activity
| Publication ID | Patent Title | Status | First Filing Date | Technology (CPC) | Citations |
|---|---|---|---|---|---|
| FR-2692833-A1 | Coconut mesocarp as plant culture substrate - is cut into slices and fragmented to form particles comprising fibres with attached parenchymous tissue | Pending | 30-Jun-1992 | ||
| FR-2619671-B1 | Method for multiplication and cultivation of plants of the bromeliacea family, and plants obtained thereby | Inactive | 31-Aug-1987 | ||
| FR-2619671-A1 | Method for multiplication and culture of plants of the bromeliacea family, and plants obtained thereby | Active | 31-Aug-1987 | A01G7/00 |
Socotra Signals
Growth Rate
Growth
Size Multiple
Key Data Points
Similarweb Unique Visitors
Majestic Referring Domains
Socotra Investors (31)
| Investor Name | Investor Type | Holding | Investor Since | Participating Rounds |
|---|---|---|---|---|
| Activant Capital | Venture Capital | Minority | ||
| Friends & Family Capital | Venture Capital | Minority | ||
| Insight Partners | Growth/Expansion | Minority | ||
| Matt Pauker | Angel (individual) | Minority | ||
| Brewer Lane Ventures | Venture Capital | Minority |
Socotra Acquisitions (1)
Socotra’s most recent deal was a Merger/Acquisition with Avolanta. The deal was made on 11-May-2022.
| Company Name | Deal Date | Deal Type | Deal Size | Industry | Lead Partner |
|---|---|---|---|---|---|
| Avolanta | 11-May-2022 | Merger/Acquisition | Business/Productivity Software |
Socotra FAQs
-
When was Socotra founded?
Socotra was founded in 2014.
-
Where is Socotra headquartered?
Socotra is headquartered in Austin, TX.
-
What is the size of Socotra?
Socotra has 164 total employees.
-
What industry is Socotra in?
Socotra’s primary industry is Business/Productivity Software.
-
Is Socotra a private or public company?
Socotra is a Private company.
-
What is the current valuation of Socotra?
The current valuation of Socotra is .
-
What is Socotra’s current revenue?
The current revenue for Socotra is .
-
How much funding has Socotra raised over time?
Socotra has raised $96.6M.
-
Who are Socotra’s investors?
Activant Capital, Friends & Family Capital, Insight Partners, Matt Pauker, and Brewer Lane Ventures are 5 of 31 investors who have invested in Socotra.
-
Who are Socotra’s competitors?
Vertafore, Insuresoft, Aisus, Keylane, and Ventiv Technology are some of the 36 competitors of Socotra.
Data Transparency
-
Meet our data hygiene team
Discover how our experts ensure you’re getting the most accurate financial data in the industry.
Read blog » -
How PitchBook sources data
Our data operations team has logged over 3.5 million hours researching, organizing, and integrating the information you need most.
Discover our process »
