About Patra
Patra is a company based in El Dorado Hills (United States) founded in 2005 by John Simpson. It operates as a AI-as-a-Service, Managed Services, and InsurTech. Patra has raised $146 million across 2 funding rounds from investors including FTV Capital and SkyKnight Capital. The company has 5,256 employees as of April 01, 2024. Patra has completed 1 acquisition, including QBIS Insurance Solutions. Patra offers products and services including Patra AI, Insurance Processing, Contact Center, Small Accounts Management, and Print and Virtual Mail. Patra operates in a competitive market with competitors including ReSource Pro, Socotra, FintechOS, EIS Group and Riskcovry, among others.
- Headquarter El Dorado Hills, United States
- Employees 5256 as on 01 Apr, 2024
- Founders John Simpson
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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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Social
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- Legal Name Patra Corporation
- Date of Incorporation 06 Feb, 2007
- Jurisdiction Visakhapatnam, Andhra Pradesh, India
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Annual Revenue
$23.33 M (USD)24.56as on Mar 31, 2023
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Net Profit
$2.38 M (USD)30.78as on Mar 31, 2023
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EBITDA
$3.48 M (USD)20.35as on Mar 31, 2023
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Total Equity Funding
$146 M (USD)
in 2 rounds
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Latest Funding Round
$146 M (USD), Private Equity Round
Sep 13, 2022
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Investors
FTV Capital
& 1 more
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Employee Count
5256
as on Apr 01, 2024
- Investments & Acquisitions
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Products & Services of Patra
Patra offers a comprehensive portfolio of products and services, including Patra AI, Insurance Processing, Contact Center, Small Accounts Management, and Print and Virtual Mail.
AI-powered tools are provided for insurance policy management.
Insurance processing services are offered for operational efficiency.
Omnichannel customer support is delivered for insurance clients.
Small accounts are managed to improve client retention.
Document processing and mailing solutions are provided efficiently.
People of Patra
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Funding Insights of Patra
Patra has successfully raised a total of $146M across 2 strategic funding rounds. The most recent funding activity was a Private Equity Round of $146 million completed in September 2022. 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.
Investors in Patra
Patra has secured backing from 2 investors, including venture fund investors. Prominent investors backing the company include FTV Capital and SkyKnight Capital.
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Private equity investment firm
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SkyKnight Capital is involved in investment activities.
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Investor details for Patra
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Investments & Acquisitions by Patra
Patra has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include QBIS Insurance Solutions.
Investment portfolio details for Patra
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- Transaction dates
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| Company Name | Description | Domain | Location | Founded Year | Amount |
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Cloud-based underwriting and delivery platform for SMEs agents and brokers
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Locked | Locked | 2016 | Locked |
Complete acquisition details for Patra
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Financial Statements - Patra
Detailed financials for Patra
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Patra Comparisons
Peer comparison for Patra
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Competitors of Patra
Patra 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 ReSource Pro, Socotra, FintechOS, EIS Group and Riskcovry, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Insurance policy and claim management solutions for the insurance industry
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Cloud-based solutions for insurance policy management and underwriting are offered.
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AI-based software suite is provided for banking and insurance sectors.
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Cloud-based policy management and underwriting solutions for insurance are provided.
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A platform for digital insurance distribution and management is provided.
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Cloud-based software solutions for credit insurers, surety bonds & trade finance
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Detailed competitors of Patra
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Latest news on Patra
Complete news archive for Patra
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Frequently Asked Questions about Patra
Patra was founded in 2005 and raised its 1st funding round 15 years after it was founded.
Patra is headquartered in El Dorado Hills, United States. It is registered at El Dorado Hills, California, United States.
Pratap Sarker is the current CEO of Patra.
Patra is a funded company, having raised a total of $146M across 2 funding rounds to date.
As of Apr 01, 2024, the latest employee count at Patra is 5,256.
Annual revenue of Patra is $23.33M as on Mar 31, 2023.
Insurance business process outsourcing and AI-powered solutions are offered by Patra to optimize efficiency and growth for agencies, brokers, wholesalers, MGAs, MGUs, and carriers. Services are provided across property casualty, employee benefits, and business administration sectors. Innovative technologies like Patra AI are utilized for policy checking, data extraction, and quote comparison. Operational transformation is supported through contact center management, small accounts handling, and virtual staffing. With over 20 years of expertise, scalable and flexible solutions are delivered to modernize operating models in the insurance ecosystem.
Patra offers Patra AI, Insurance Processing, Contact Center, Small Accounts Management, and Print and Virtual Mail.
Patra has made 1 acquisition, including QBIS Insurance Solutions.
Patra has 2 investors. Key investors include FTV Capital, and SkyKnight Capital.