Insight Partners led a $96m Series C funding round in Socotra.

Insight Partners, a global venture capital and private equity firm, led a $96m Series C funding round in Socotra, a company offering a proven and truly modern front-to-back platform for quickly launching and iterating insurance products, with participation from 8VC, Portage Ventures, Brewer Lane, MS&AD Ventures, and Nationwide Ventures. “Many of today’s core system providers bill themselves as modern without having basics like documentation or continual upgrades. In stark contrast, Socotra is API-driven, well-documented, cloud-native, and a true off-the-shelf product. What takes legacy technology months or even years with armies of custom developers, Socotra’s customers can accomplish in weeks—and then upgrades are free, automatic, and non-interruptive. Now with the support of Insight Partners, Socotra is positioned to scale faster and deliver even more value for the insurance community in the years ahead,” Dan Woods, Socotra Founder and CEO.