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Chicago-based\u00a0Snapsheet\u00a0<\/a>has raised $12 million to streamline the process after car accidents. The company has built a mobile application that surveys the vehicle damage and serves as a virtual appraiser.<\/p>\n The latest round of funding is led by Tola Capital and comes just months after a $20 million Series C.<\/p>\n \u201cSnapsheet<\/span>\u2019s virtual claims platform streamlines and simplifies the claims handling process for everyone \u2013 the carrier, the customer and the repair shop,\u201d Sheila Gulati, managing director at Tola Capital says about why she invested.<\/p>\n Co-founder CJ Przybyl said that they\u2019ve been getting a lot of funding opportunities because they \u201cinvented the category.\u201d It not only saves time for the car owners, but it also benefits insurance companies.<\/p>\n Snapsheet allows the insurance businesses to offer a \u201cwhite label self-service mobile app,\u201d he explained. While some of them, like Allstate, have opted to create this themselves, Snapsheet has managed to convince 45 insurance carriers to work with them.<\/p>\n Snapsheet makes money by charging for each estimate they provide. They\u2019ve been hiring former appraisers to inspect the photos submitted via the app from home.<\/p>\n Przybyl says they will be using the funding to improve their machine learning capabilities. They\u2019ll also be expanding internationally.<\/p>\n And while they\u2019ve raised a lot of capital, they\u2019re \u201cnot planning on an IPO,\u201d he said. At the moment, Przybyl is \u201cnot sure what our exit plans would be.\u201d<\/span><\/p>\n Featured Image: Andrew Bret Wallis\/DigitalVision\/Getty Images<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"![\"\"](\"https:\/\/tctechcrunch2011.files.wordpress.com\/2016\/10\/gettyimages-106285657.jpg?w=680\")
Chicago-based Snapsheet has raised $12 million to streamline the process after car accidents. The company has built a mobile application that surveys the vehicle damage and serves as a virtual appraiser. The latest round of funding is led by Tola Capital and comes just months after a $20 million Series C. “Snapsheet’s virtual claims platform streamlines and simplifies… Read More<\/a><\/p>\n\n<\/img><\/a>
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