Avallon, a builder of artificial intelligence agents that automate insurance claims tasks, has secured $4.6 million in seed funding led by Frontline Ventures with participation from Y Combinator, 1984, Liquid2 and Booom.
The company says the capital will be used to hire employees and accelerate product development to expand beyond bespoke services for the workers’ compensation and automotive insurance categories to an AI platform for all lines of insurance.
Avallon’s AI technology creates structured claims data for third-party administrators and insurance carriers and integrates with most major CMS platforms, IVR systems and data warehouses.
Avallon was co-founded by Schramm, CEO, and Bryan Guin, chief operations officer. Additional members of the founding team include Moritz Bartusch and Leander Peter.
With the seed round, Will Prendergast, partner of Frontline Ventures, will become an Avallon board observer.
Avallon is based in New York City.
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