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
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Sectors
Financial Services
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Email
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Phone
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Website
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Products & Services of Evolution IQ
Evolution IQ offers a comprehensive portfolio of products and services, including Claims Guidance and Medhub. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
AI tool for optimizing insurance claims processes
Platform overview for medical claims support
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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 Total Funding
- Total Rounds 5
- Last Round Series C — $20.2M
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First Round
First Round
(11 May 2020)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2024 | Amount | Series C - Evolution IQ | Valuation |
investors |
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| Jun, 2023 | Amount | Series B - Evolution IQ | Valuation |
investors |
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| Jan, 2023 | Amount | Series B - Evolution IQ | Valuation | Brewer Lane Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
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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. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Founded Year | Domain | Location | |
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US focused seed and early-stage VC firm
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Founded Year | Domain | Location | |
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Venture capital firm focused on early-stage fintech, enterprise, web 3, consumer, and multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Evolution IQ
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Evolution IQ
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Evolution Iq Comparisons
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. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Cloud-based software is offered for life insurance and financial services.
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| domain | founded_year | HQ Location |
Software solutions for wealth management and life insurance are provided.
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| domain | founded_year | HQ Location |
Insurance quoting and underwriting solutions for the life and health insurance industry
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| domain | founded_year | HQ Location |
Software, data, analytics, and services are provided to financial institutions.
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| domain | founded_year | HQ Location |
Machine learning analytics are delivered for insurance risk management.
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| domain | founded_year | HQ Location |
AI-based software suite for life insurance data management is offered.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Evolution Iq
Frequently Asked Questions about Evolution IQ
When was Evolution IQ founded?
Evolution IQ was founded in 2019 and raised its 1st funding round 1 year after it was founded.
Where is Evolution IQ located?
Evolution IQ is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Evolution IQ?
Tom Vykruta is the current CEO of Evolution IQ.
Is Evolution IQ a funded company?
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 Series B of $7M, raised on May 11, 2020.
What does Evolution IQ do?
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.
Who are the top competitors of Evolution IQ?
Evolution IQ's top competitors include iPipeline, FINEOS and Bravura Solutions.
What products or services does Evolution IQ offer?
Evolution IQ offers Claims Guidance and Medhub.
Who are Evolution IQ's investors?
Evolution IQ has 11 investors. Key investors include Sedgwick, Principal, CCC Intelligent Solutions, FirstMark, and Foundation Capital.
What is Evolution IQ's valuation?
The valuation of Evolution IQ is $200M as of Jan 2023.
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