Carpe Data

Carpe Data provides innovative data solutions tailored for the insurance industry, enhancing risk assessment and fraud detection through their advanced offerings and analytics. Founded in 2016, Carpe Data operates from Santa Barbara, US, focusing on developing data solutions for the insurance sector. The company has undergone strategic developments to refine its product offerings. Its CEO, Max Drucker, has a history of leading ventures in technology and data analytics.

Carpe Data has secured a total funding of USD 6. 6 mn, with the latest fundraising being a SERIES A round led by Aquiline Capital Partners. Carpe Data specializes in advanced data solutions for the insurance industry, addressing challenges in risk assessment and fraud detection. Its core offerings include Claims Solutions such as Online Injury Alerts and Investigative Reports, which enhance the claims handling process for insurance providers.

These solutions validate claimant identity and provide comprehensive insights into loss claims by leveraging extensive online data. Carpe Data serves a diverse client base including major insurers like Allstate, Zurich, and Hastings Direct, primarily in the United States and the United Kingdom, focusing on the growing demand for digital transformation in insurance. Carpe Data operates on a business-to-business (B2B) model, generating revenue through partnerships and subscription-based services for insurance providers. Clients subscribe to its data solutions, integrating advanced analytics into their workflows.

Revenue is generated via contractual agreements for specific products like the Minerva Suite or Claims Solutions, with transactions occurring through annual or multi-year subscription models, thereby ensuring a steady revenue stream as clients enhance their risk assessment capabilities and reduce fraud exposure. Carpe Data intends to expand its product offerings, with new solutions currently in development aimed at further automating and enhancing claims processing for insurers. The company is exploring entry into additional markets, specifically targeting expansion in Europe and Asia by 2025. Recent funding from Aviva Ventures will support these initiatives, allowing Carpe Data to bolster its product development and market reach.