About Evolution IQ
Evolution IQ is a company based in New York (United States) founded in 2019 was acquired by CCC in December 2024. Evolution IQ has raised $60.35 million across 5 funding rounds from investors including Sedgwick, Principal and CCC Intelligent Solutions. Evolution IQ offers products and services including Claims Guidance and Medhub. Evolution IQ operates in a competitive market with competitors including iPipeline, Bravura Solutions, FINEOS, Linedata and Atidot, among others.
- Headquarter New York, United States
- Stage Minicorn
- SectorsFinancial Services
- Email••••••••
- Website evolutioniq.com
- Social LinkedIn
- Acquired by CCC (Dec 2024)
Products & Services of Evolution IQ
Evolution IQ offers a comprehensive portfolio of products and services, including Claims Guidance and Medhub.
AI tool for optimizing insurance claims processes
Platform overview for medical claims support
Funding Insights of Evolution IQ
Evolution IQ has successfully raised a total of $60.35M across 5 strategic funding rounds. The most recent funding activity was a Series C round of $20.15 million completed in July 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $60.35M
- Total Rounds 5
- Last Round Series C — $20.15M
- First Round $1.89M
(May 2020)
- Investors Count 10
All 5 funding rounds of Evolution IQ with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2024 | $20.15M | Series C | – | – | – |
| Jun 2023 | $10.31M | Series B | – | – | – |
| Jan 2023 | $7M | Series B | $200M | Brewer Lane Ventures | |
| Apr 2022 | $21M | Series A | – | Brewer Lane Ventures | |
| May 2020 | $1.89M | Seed | – | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Jan 2023 | $200M | •••••••• |
Last known valuation $200M (Jan 2023). 11 investors in total: 11 institutional.
Investors in Evolution IQ
Evolution IQ has secured backing from 11 investors, including venture fund and institutional investors. Prominent investors backing the company include Sedgwick, Principal and CCC Intelligent Solutions.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
- | – | brewerlane.com | - | |
US focused seed and early-stage VC firm | – | firstround.com | San Francisco, United States | |
Venture capital firm focused on early-stage fintech, enterprise, web 3, consumer, and multiple sectors | 1995 | foundationcapital.com | Palo Alto, United States | |
Early-stage venture capital is invested in tech startups across sectors. | 1987 | firstmark.com | New York, United States | |
Altai Ventures is engaged in venture capital investments. | 2023 | altaiventures.com | - | |
Tech companies are invested in by New York Life Ventures. | – | nylventures.com | New York, United States | |
Tech startups are funded by this venture capital entity. | – | acp.vc | Boston, United States | |
Retirement, investment, and insurance products and services are provided. | 1879 | principal.com | Des Moines, United States | |
Provides life insurance, retirement, and employee benefits services. | 2006 | reliancestandard.com | Philadelphia, United States | |
Claims administration, loss adjusting, and benefits management services are provided. | 1969 | sedgwick.com | Memphis, United States |
Investor details for Evolution IQ
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
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Verified entity values are shown only after access is granted.
People of Evolution IQ
89 people are tracked at Evolution IQ (21 in leadership, 68 in team).
| Name | Role | Group |
|---|---|---|
Tom Vykruta | CEO | Leadership |
Rooney Gleason | Chief Insurance Officer | Leadership |
Mark Fallon | Director, Sales | Leadership |
John Ross | Director Of Product Innovation | Leadership |
Sarah Schuermann | VP, People | Leadership |
Grace Spellmann | Director, HR Business Partner | Leadership |
Leah Tran | Vp, Product Marketing | Leadership |
Paolo Padiernos | Head Of AI Product, P&c | Leadership |
Mike Saltzman | Co-Founder & Co-CEO | Leadership |
Jonathan Lewin | Co-Founder & Co-CEO | Leadership |
Kipp Teamey | Head, Technical Engagement | Leadership |
Michael Spinelli | Director Of Product | Leadership |
Timothy Lo | Senior Director Of Engineering, Disability | Leadership |
Mike Luby | VP Of Engineering | Leadership |
Charles Zhu | VP Of Products | Leadership |
Tim | Director UK And Nordic Countries | Leadership |
Mike Kyrilis | Sales Director | Leadership |
Bach Hoang | Director Of Devops | Leadership |
Ray Catudal | Sales Director, EU | Leadership |
Nishit Shah | Director Of Engineering | Leadership |
69 more people are available in the full profile.
Complete people profiles for Evolution IQ
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Timeline of Evolution IQ
5 dated milestones of Evolution IQ across 5 years, from founding to its latest funding, stage changes and deals.
- Founded Evolution IQ is founded.
- Funding First funding round of $1.9M.
- Milestone Reaches Minicorn status.
- Funding Latest funding round, Series C, of $20.2M.
- Exit Acquired by CCC.
Competitors of Evolution IQ
Evolution IQ operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as iPipeline, Bravura Solutions, FINEOS, Linedata and Atidot, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| ipipeline.com | 1995 | Exton, United States | $104.49M | 433 | Cloud-based software is offered for life insurance and financial services. | |
| bravurasolutions.com | 2004 | Edinburgh, United Kingdom | $28.4M | 17 | Software solutions for wealth management and life insurance are provided. | |
| fineos.com | 1993 | Dublin, Ireland | – | 249 | Insurance quoting and underwriting solutions for the life and health insurance industry | |
| linedata.com | 1998 | – | – | 157 | Software, data, analytics, and services are provided to financial institutions. | |
| atidot.com | 2015 | San Jose, United States | $5M | – | Machine learning analytics are delivered for insurance risk management. | |
| omniscience.com | 2000 | Palo Alto, United States | $13.71M | 4 | AI-based software suite for life insurance data management is offered. | |
| quility.com | 2020 | Swannanoa, United States | – | 170 | Life and P&C insurances are compared through an online platform. | |
| lumera.com | 1996 | Bothell, United States | – | – | Proprietary polymer materials are developed for photonic communications applications. | |
| pinboxsolutions.com | 2016 | Singapore | $2.61M | 5 | Digital platform for micropension and microinsurance inclusion is offered. |
Detailed competitors of Evolution IQ
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
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Verified entity values are shown only after access is granted.
Web traffic of Evolution IQ
The website of Evolution IQ (evolutioniq.com) receives about 6.6K visits a month.
- Monthly visits6.6K
▲ 39.8% vs previous month
Websites whose visitors overlap most with Evolution IQ. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
lifeinsuranceinternational.com | lifeinsuranceinternational.com | 100% | – | #1,405,413 | – |
Latest news on Evolution Iq
Complete news archive for Evolution IQ
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
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Similar companies to Evolution IQ
10 companies that operate in the same segment as Evolution IQ (Insurance Technology & Support Services), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Insurance products for vehicles, health, travel, and life are offered. | 2016 | Bengaluru, Karnataka, India | USD 655.23 M | USD 216.04 M | 461 | |
Auto insurance is delivered via app to individual drivers. | 2017 | London, England, United Kingdom | USD 206.3 M | – | – | |
Cloud-based platform for property and casualty insurance is provided. | 2001 | San Mateo, California, United States | – | USD 1.48 B | 226 | |
Claims administration, loss adjusting, and benefits management services are provided. | 1969 | Memphis, Tennessee, United States | USD 2.63 M | – | – | |
Online property and casualty insurance is provided for businesses. | 2017 | San Francisco, California, United States | USD 800 M | – | – | |
Satellite-based imaging solutions are provided using synthetic aperture radar. | 2016 | Palo Alto, California, United States | USD 233.99 M | – | 191 | |
API-enabled insurance distribution platform is provided for B2C companies. | 2011 | Noida, Uttar Pradesh, India | USD 120.6 M | – | – | |
AI and microsatellite-based imaging solutions are developed for data monitoring. | 2014 | Espoo, Finland | USD 1.16 B | – | – | |
Software suite for insurance distribution and management is provided. | 2014 | New York, New York, United States | USD 354.55 M | USD 21.6 K | – | |
AI-enabled driver monitoring and fleet safety management solutions | 2015 | Palo Alto, California, United States | USD 182.84 M | – | – |
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Frequently Asked Questions about Evolution IQ
Evolution IQ was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Evolution IQ is headquartered in New York, United States. It is registered at New York, New York, United States.
Tom Vykruta is the current CEO of Evolution IQ.
Evolution IQ is a funded company, having raised a total of $60.35M across 5 funding rounds to date. The company's 1st funding round was a Seed of $1.89M, raised on May 2020.
Evolution IQ was founded in 2019 in New York, United States, as an AI-based platform focused on insurance claims data monitoring within the insurance sector. Operations involve automation of claim detection across portfolios through IQInvestigate, with referrals made to examiners or special investigation units for reviews. Claim severity and litigation risks are analyzed via IQPriority to support adjusters in processing and closing cases efficiently.
Evolution IQ's top competitors include iPipeline, FINEOS and Bravura Solutions.
Evolution IQ offers Claims Guidance and Medhub.
Evolution IQ has 11 investors. Key investors include Sedgwick, Principal, CCC Intelligent Solutions, FirstMark, and Foundation Capital.
The valuation of Evolution IQ is $200M as of Jan 2023.
Yes. Evolution IQ was acquired by CCC in December 2024.