About Socotra
Socotra is a company based in San Francisco (United States) founded in 2014 by Dan Woods.. Socotra has raised $85.09 million across 6 funding rounds from investors including Nationwide, MS & AD and Portage. The company has 37 employees as of December 31, 2022. Socotra has completed 1 acquisition, including Avolanta. Socotra offers products and services including Socotra Policy, Socotra Billing, and UI and Portals. Socotra operates in a competitive market with competitors including Riskcovry, FintechOS, ReSource Pro, Xceedance and Keylane, among others.
- Headquarter San Francisco, United States
- Employees 37 as on 31 Dec, 2022
- Founders Dan Woods
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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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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$85.09 M (USD)
in 6 rounds
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Latest Funding Round
$50 M (USD), Series C
Mar 14, 2022
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Investors
Nationwide
& 12 more
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Employee Count
37
as on Dec 31, 2022
- Investments & Acquisitions
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Products & Services of Socotra
Socotra offers a comprehensive portfolio of products and services, including Socotra Policy, Socotra Billing, and UI and Portals. 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.
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.
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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 Total Funding
- Total Rounds 6
- Last Round Series C — $50.0M
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First Round
First Round
(24 Oct 2014)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2022 | Amount | Series C - Socotra | Valuation | Insight Partners | |
| Jan, 2020 | Amount | Series B - Socotra | Valuation | Brewer Lane Ventures | |
| Dec, 2018 | Amount | Debt – Conventional - Socotra | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| 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 |
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. 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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Investment firm scaling software and technology companies from early to late stages.
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Founded Year | Domain | Location | |
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Venture capital firm investing in technology, life sciences, and related sectors.
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Founded Year | Domain | Location | |
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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 Socotra
Socotra has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Avolanta. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| 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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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cloud-based platform for customer journey insights and engagement is offered.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Socotra
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| 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 |
Socotra Comparisons
Competitors of Socotra
Socotra 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 Riskcovry, FintechOS, ReSource Pro, Xceedance and Keylane, 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 |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
A platform for digital insurance distribution and management is provided.
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| domain | founded_year | HQ Location |
AI-based software suite is provided for banking and insurance sectors.
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| domain | founded_year | HQ Location |
Insurance policy and claim management solutions for the insurance industry
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| domain | founded_year | HQ Location |
Provides operations, technology, and data services to insurers worldwide.
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| domain | founded_year | HQ Location |
Cloud-based life and non-life insurance platform for the insurance and pension industry
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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 Socotra
Frequently Asked Questions about Socotra
When was Socotra founded?
Socotra was founded in 2014.
Where is Socotra located?
Socotra is headquartered in San Francisco, United States. It is registered at San Francisco, California, United States.
Who is the current CEO of Socotra?
Dan Woods is the current CEO of Socotra. They have also founded this company.
Is Socotra a funded 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 Debt – Conventional of $5M, raised on Oct 24, 2014.
How many employees does Socotra have?
As of Dec 31, 2022, the latest employee count at Socotra is 37.
What does Socotra do?
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.
Who are the top competitors of Socotra?
Socotra's top competitors include FintechOS, Tinubu and ReSource Pro.
What products or services does Socotra offer?
Socotra offers Socotra Policy, Socotra Billing, and UI and Portals.
How many acquisitions has Socotra made?
Socotra has made 1 acquisition, including Avolanta.
Who are Socotra's investors?
Socotra has 13 investors. Key investors include Nationwide, MS & AD, Portage, Insight Partners, and 8VC.
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