Reserv, a New York–based AI-native third-party administrator (TPA) and software provider for property and casualty insurance, has raised $125 million in Series C funding led by KKR, with participation from Bain Capital Ventures, Flourish Ventures, and select strategic partners and clients. The funds will be utilized to expand operations and enhance its claims technology platform.

Summary of transaction details:

• Deal Type: Series C
• Transaction Amount: $125,000,000
• Founders: CJ Przybyl & Martha Dreiling
• Headquarters: New York
• Investors: KKR, Bain Capital Ventures & Flourish Ventures
• Current Clients: Approximately 200 insurers, corporate captives, MGAs, and brokers

Founded in 2022, Reserv's technology platform aims to streamline claims handling, reduce loss costs, and improve customer experience for insurers. The company is positioned to enhance its market presence and operational capabilities with the new capital.