About Socotra
Socotra is a Financial Services company based in San Francisco (United States) founded in 2014 by Dan Woods. Cloud-based solutions for insurance policy management and underwriting are offered. Socotra has raised $85.09 million across 6 funding rounds from investors including Nationwide, MS & AD and Portage. The company has 37 employees. Socotra has completed 1 acquisition, including Avolanta. Its chief executive, as recorded, is Dan Woods. Its website socotra.com draws about 13 thousand monthly visits. Socotra offers products and services including Socotra Policy, Socotra Billing, and UI and Portals. Its focus areas include FinTech, Insurance IT, Insurance Policy Solutions and Insurance Software Suite. Its competitors include ReSource Pro and Novidea; 2 of its 2 listed competitors have raised funding.
Company details
Socotra was founded in 2014 in San Francisco, United States, and operates within the insurance sector. Cloud-based platforms are provided for policy administration, rating, claims management, billing, data handling, reporting, and additional functions. Solutions for product development and distribution are also included, supporting various insurance operations across the industry.
- Headquarters San Francisco, United States
- Employees 37
- Founders Dan Woods
- SectorsFinancial Services
- Website category Finance · Insurance
- Email••••••••
- Phone•••• ••••
- Website socotra.com
- Social LinkedIn X
- Total Equity Funding$85.09M (USD)
in 6 rounds
- Latest Funding Round$50M (USD), Series C
Mar 2022
- InvestorsNationwide
& 12 more
- Employee Count37
- Investments & Acquisitions
Products & Services of Socotra
Socotra offers a comprehensive portfolio of products and services, including Socotra Policy, Socotra Billing, and UI and Portals.
Manages insurance policies and products with flexible configurations.
Handles billing operations and integrations for financial accuracy.
Delivers digital experiences for customers and agents in insurance.
Funding Insights of Socotra
Socotra has successfully raised a total of $85.09M across 6 strategic funding rounds. The most recent funding activity was a Series C round of $50 million completed in March 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.
- Total Funding $85.09M
- Total Rounds 6
- Last Round Series C — $50M
- First Round $1.97M
(Oct 2014)
- Investors Count 13
All 6 funding rounds of Socotra 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 |
|---|---|---|---|---|---|
| Mar 2022 | $50M | Series C | – | Insight Partners | |
| Jan 2020 | $15.2M | Series B | – | Brewer Lane Ventures | |
| Dec 2018 | $5M | Debt – Conventional | – | – | – |
| Sep 2018 | $16.6M | Series A | – | 8VC, Nationwide | |
| Mar 2015 | $1.33M | Seed | – | – | – |
| Oct 2014 | $1.97M | Seed | – | – | – |
13 investors in total: 13 institutional.
Investors in Socotra
Socotra has secured backing from 13 investors, including venture fund and institutional investors. Prominent investors backing the company include Nationwide, MS & AD and Portage.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investment firm scaling software and technology companies from early to late stages. | insightpartners.com | |||
Venture capital firm investing in technology, life sciences, and related sectors. | 8vc.com | |||
| brewerlane.com | ||||
Venture capital firm focused on seed to series B stage companies | msad.vc | Menlo Park, United States | ||
A global fintech and financial services investment platform is operated. | 2016 | portageinvest.com | Montreal, Canada | |
Venture capital investments in technology and defense sectors. | foundersfund.com | |||
Tech-enabled businesses are funded by Greenoaks venture capital firm. | greenoaks.com | San Francisco, United States | ||
Investments are directed toward early-stage consumer-tech startups. | scifi.vc | San Francisco, United States | ||
Early-stage tech-focused VC firm investing primarily in the US | tuesday.vc | San Francisco, United States | ||
Early-stage investments are provided to transformative technology companies. | svangel.com | San Francisco, United States |
Investor details for Socotra
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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- Round participation
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People of Socotra
31 people are tracked at Socotra (12 in leadership, 19 in team); the tracked headcount is 37.
| Name | Role | Group |
|---|---|---|
Dan Woods | Founder & CEO | Leadership |
Vic Valenzuela | Director, National Sales Team | Leadership |
Ekine Akuiyibo | COO | Leadership |
Sonny Patel | Chief Product & Technology Officer | Leadership |
Dubi Ben-Shoham | Sr. Director Global Talent Acquisition | Leadership |
Sam Madden | Chief Financial Officer | Leadership |
Chuck Wilson | Director | Leadership |
Kevin Bolger | Director Of Product | Leadership |
Marat Irner | VP | Head Of Engineering | Leadership |
Mark Hudson | Director, BDD | Leadership |
Kevin E. Murray | Advisor To Chief Executive Officer | Leadership |
Jennifer Donovan | Executive Assistant To The CEO & COO | HR Manager | Leadership |
Mikhail Voronin | Staff Software Engineer | Team |
Konstantin Kalin | Software Architect | Team |
Rebecca Graff | Operations Associate | Team |
Matthew Hamilton | Product Architect | Team |
Carrie Menzie | Manager, Accounting & Accounting Operations | Team |
Jennifer Shevock | Controller | Team |
Sam Tucker | Manager Of Operations | Team |
Devin Clark | Staff Frontend Engineer | Team |
11 more people are available in the full profile.
Complete people profiles for Socotra
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Investments & Acquisitions by Socotra
Socotra has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Avolanta.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Cloud-based platform for customer journey insights and engagement is offered. | avolanta.com | Columbia, United States | 2016 | May 2022 | •••• |
Complete acquisition details for Socotra
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- Complete history
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Timeline of Socotra
4 dated milestones of Socotra across 8 years, from founding to its latest funding, stage changes and deals.
- Founded Socotra is founded.
- Funding First funding round of $2.0M.
- Funding Latest funding round, Series C, of $50.0M.
- Acquisition Acquires Avolanta.
Competitors of Socotra
Socotra has 2 listed competitors in our database, 2 of them funded. They include ReSource Pro and Novidea.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| resourcepro.com | 2003 | New York, United States | $87.37M | 3,180 | Insurance policy and claim management solutions for the insurance industry | |
| novidea.com | 2009 | Milwaukee, United States | $110M | Agency management platform for insurance brokers and agents is offered. |
Detailed competitors of Socotra
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
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Web traffic of Socotra
The website of Socotra (socotra.com) receives about 12.6K visits a month and ranks #2,009,738 among all websites worldwide, #6,392 in Insurance.
- Monthly visits12.6K
▲ 15.1% vs previous month
- Unique visitors4.2K
per month
- Global rank#2,009,738
among all websites
- Category rank#6,392
Finance · Insurance
- Bounce rate40%
- Pages per visit2.1
- Average visit1 min 05 sec
- DevicesDesktop 42% · Mobile 58%
Websites whose visitors overlap most with Socotra. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
welcometosocotra.com | welcometosocotra.com | 100% | #795,984 | – |
Top companies in Insurance Technology & Support Services
3 companies that operate in the same segment as Socotra (Insurance Technology & Support Services) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
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 | 699 |
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Related news about Socotra
Complete news archive for Socotra
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Frequently Asked Questions about Socotra
Socotra was founded in 2014.
Socotra is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Dan Woods is the CEO of Socotra, as recorded in our data. They have also founded this company.
Socotra is a funded company, having raised a total of $85.09M across 6 funding rounds to date. The company's 1st funding round was a Seed of $1.97M, raised on Oct 2014.
Socotra has 37 employees.
Socotra was founded in 2014 in San Francisco, United States, and operates within the insurance sector. Cloud-based platforms are provided for policy administration, rating, claims management, billing, data handling, reporting, and additional functions. Solutions for product development and distribution are also included, supporting various insurance operations across the industry.
Socotra's top competitors include ReSource Pro and Novidea.
Socotra offers Socotra Policy, Socotra Billing, and UI and Portals.
Socotra has made 1 acquisition, including Avolanta.
Socotra has 13 investors. Key investors include Nationwide, MS & AD, Portage, Insight Partners, and 8VC.