ClaimForce Closes on Series A Funds

March 9, 2006

ClaimForce Inc., an online vendor management and procurement solution for the property & casualty insurance claims industry, recently closed on a Series A round of financing with an investor group led by Origin Ventures. In connection with the financing, Bruce N. Barron, principal of Origin Ventures has joined the company’s board of directors.

“Our new investor group has a proven track record of identifying and investing in innovative and successful companies. The management of ClaimForce is thrilled to have them aboard and we look forward to building ClaimForce into an industry leader,” said Stephen Applebaum, president of ClaimForce.

“This investment allows us to accelerate our growth and capitalize on the strong demand being shown for our products and services” said Dennis O’Mahoney, founder and CEO of ClaimForce. “Competition, industry best practices, regulatory environments and heightened customer expectations fueled by unprecedented access to information have converged to drive this demand” he added.

ClaimForce combines more than 75 years of leadership and experience to provide the insurance industry with claim solutions.

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