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Snapsheet Revenue, Valuation, Funding & Investors
Snapsheet is valued at $300M as of July 2023, a 8.1x multiple on its last reported $37M revenue.
Last Snapsheet valuation
$300M
Seed · Jul 2023
Last Snapsheet funding round
$5M
Seed · Jul 2023
Snapsheet revenue
$37M
Seed · Jul 2023
Key investors in Snapsheet
Commerce Ventures
Tola Capital
F-Prime
Intact Financial Corp.
USAA
Liberty Mutual Insurance
About Snapsheet
Snapsheet is a claims management software provider using cloud-native technology for insurance appraisals. It offers digital auto claims processing recognized as the fastest in the United States. Over 100 clients including major carriers like Progressive and Allstate utilize Snapsheet's suite for automation and customer engagement. Chicago-headquartered since 2011, the company partners with insurtech firms and third-party administrators across North America.
Founded
2011
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$37M (Jul 2023)
Valuation
$300M (Jul 2023)
Snapsheet Valuation
Snapsheet is currently valued at $300M, based on its seed round in July 2023.
The $5M round was led by State Farm Ventures.
Snapsheet's valuation has grown 1.4x from $209M at its Series D in May 2017 to $300M in July 2023, across 3 priced rounds.
Snapsheet valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jul 2023 | Seed | $300M | 8.1x |
| May 2019 | Series E | $256M | 25.6x |
| May 2017 | Series D | $209M | 5.6x |
Snapsheet Revenue
Snapsheet's latest recorded revenue is $37M, as of its seed round in July 2023. At a $300M valuation, that implies a 8.1x revenue multiple.
Revenue moved from $37M in May 2017 to $37M in July 2023, while the revenue multiple moved from 5.6x to 8.1x.
Snapsheet revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jul 2023 | $37M | $300M | 8.1x | Seed |
| May 2019 | $10M | $256M | 25.6x | Series E |
| May 2017 | $37M | $209M | 5.6x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Snapsheet Funding History
Snapsheet has raised a total of $105M across 6 funding rounds.
Snapsheet's first fundraising round was a $10M Series B in December 2013. The most recent completed round was a $5M seed round in July 2023.
Snapsheet funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2023 | Seed | State Farm Ventures (lead) | $5M | $300M | Snapsheet is a Chicago-based leader in claims management technology, providing virtual appraisal, claims processing, and payment solutions primarily for auto, property, and commercial insurance lines in the United States. The company empowers insurance carriers, TPAs, MGAs, and insurtechs with digital tools to automate claims, reduce costs, and improve accuracy and customer experiences. Snapsheet serves over 140 customers, including 15 of the top 20 P&C insurers in the US. On July 17-18, 2023, Snapsheet raised $5 million in a Series E3 round led by State Farm Ventures, achieving a post-money valuation of $300.04 million. This strategic investment strengthens the multi-year relationship between Snapsheet and State Farm, the largest U.S. private passenger auto insurer, and supports further innovation in claims technology. State Farm Ventures highlighted Snapsheet as a differentiated claims technology company. In 2023, Snapsheet demonstrated strong traction by managing over 4.3 million claims with 13% year-over-year growth and processing $15.3 billion in indemnity. The company expanded to 76 new and deepened customer relationships that year. |
| Mar 2021 | Series E | Ping An Global Voyager (lead); Pivot Investment Partners (lead); Liberty Mutual Insurance; Tola Capital; Commerce Ventures; Intact Financial Corp. | $30M | - | Snapsheet is a Chicago-based insurtech providing cloud-native claims management software that processes claims via email, text, web, and mobile apps, enabling quick processing and direct bank deposits for carriers. On March 25, 2021, it secured $30 million in Series E2 financing, led by Ping An Global Voyager Fund and Pivot Investment Partners, with participation from existing investors including Nationwide, Liberty Mutual Insurance, Intact Ventures, Tola Capital, and Commerce Ventures. This round follows a $29 million Series E1 in 2019, bringing total funding raised to over $100 million since its 2011 founding. The funds are earmarked to accelerate growth, enhance platform functionality with omnichannel engagement, no-code workflows, and API flexibility, and support key hires in engineering and sales. Global Voyager's Chief Investment Officer Donald Lacey joined the board. Snapsheet's platform targets auto and home insurers for digital transformation, amid heightened demand for cloud technologies post-pandemic acceleration in insurance digitization. Snapsheet noted gross written premium exceeding $100 million and partnerships with over 1,000 insurance agencies. Investors highlight Snapsheet's leadership in virtual claims and unmatched insurtech innovation. |
| May 2019 | Series E | Tola Capital (lead); Nationwide Ventures; Liberty Mutual Insurance; Sedgwick Claims Management Services; F-Prime; State Auto Labs; OCA Ventures | $29M | $256M | Snapsheet, headquartered in Chicago, IL, provides virtual claims technology and SaaS platforms for personal and commercial property and casualty insurance, digitizing claims workflows for over 75 clients since its founding in 2010. The company enables customers to submit photos of vehicle damage for quick quotes from repair facilities, accelerating processes for adjusters, body shops, and insureds. On May 20, 2019, Snapsheet raised $29 million in a Series E financing round led by Tola Capital, with participation from new investors Nationwide Ventures, Sedgwick Claims Management Services, and State Auto Labs, alongside existing investors F-Prime Capital, Liberty Mutual Strategic Ventures, OCA Ventures, and a USAA affiliate. FT Partners served as the exclusive strategic and financial advisor. This brought total funding to $71 million at that time. The funds supported expansion of the SaaS claims platform across all P&C lines beyond auto, investment in advanced analytics, global client service, and team growth. Forge Global reports a $256MM valuation and $3MM raised specifically for the Series E1 Nonvoting portion on the same date, with $2.55 price per share. Snapsheet works with more than 70 carriers and has evolved from auto claims to comprehensive cloud-based solutions. No revenue, ARR, or EBITDA metrics tied to the 2019 round appear in sources; later funding continued, reaching $125.6M over 15 rounds by 2023. |
| May 2017 | Series D | Tola Capital (lead) | $12M | $209M | Snapsheet is a Chicago-based virtual claims platform for the personal and commercial insurance industry that streamlines and simplifies insurance claims handling through mobile-first, data-centric technology. The company's platform uses mobile applications and machine learning to enable vehicle damage assessment and virtual appraisal, allowing approximately 90 percent of claims to be processed virtually without physical inspection. In June 2017, Snapsheet closed a Series D funding round of $12 million led by Tola Capital at a post-money valuation of $209.25 million. The capital was deployed to accelerate development of its AI-enabled claims platform, expand machine learning capabilities, and grow sales and marketing functions. At the time of the round, Snapsheet had established relationships with major insurance carriers including USAA, Liberty Mutual, and Metromile, and had partnered with 45 insurance carriers through white-label offerings. The company had processed millions of insurance claims and over $7 billion in appraisals by this stage of its growth trajectory. |
| Dec 2016 | Series C | F-Prime (lead); IA Capital Group (lead); USAA; Fosun RZ Capital; Commerce Ventures; Liberty Mutual Strategic Ventures; Eight Roads Ventures; Intact Financial Corp. | $20M | - | Snapsheet is a Chicago-based insurtech company providing digital claims management solutions, including virtual appraisal software that automates end-to-end processes from first notice of loss to payment for property and casualty insurers. In December 2016, Snapsheet raised $19.5 million in its Series C funding round with investors including F-Prime Capital, IA Capital Group, Eight Roads Ventures, Commerce Ventures, Liberty Mutual Strategic Ventures, Intact Financial Corporation, and Fosun RZ Capital, matching the query's specified participants and approximate date of 29/12/2016. This round followed earlier financings such as Series A ($228K in June 2011) and Series B ($10M in December 2013). Subsequent rounds included Series D ($12M in May 2017) and multiple Series E extensions ($28.7M in May 2019 and $30M in March 2021), bringing total funding over time to around $100M by 2021. The company serves over 125 global clients, claiming up to 80% improvement in claims cycle times through no-code workflows, API integrations, and features like direct deposit payments and fraud detection partnerships with FRISS and Shift Technology. Snapsheet has expanded from auto claims to all P&C lines and partnered with entities like Branch Insurance for bundled home and auto products. No sources disclose post-money valuation, revenue, ARR, or EBITDA figures specifically near the 2016 round; later estimates mention $37M or $124.6M revenue but lack timing or explicit confirmation as revenue metrics and are from less reliable aggregators. The focus remains on funding history and operational traction in claims automation. |
| Dec 2013 | Series B | USAA (lead); Commerce Ventures; 500 Global | $10M | - | Snapsheet raised a $10M Series B round in December 2013 from investors including Commerce Ventures, 500 Startups, and USAA. The Chicago-based company develops virtual auto claims technology and services. Snapsheet has raised a total of over $100M across multiple rounds, including Series C ($19.5M in 2016 with USAA participation), Series D ($12M in 2017), and Series E rounds ($28.7M and $30M in 2019 and 2021). |
Who has invested in Snapsheet?
18 investors have backed Snapsheet across its funding rounds, including Commerce Ventures, Tola Capital, F-Prime, Intact Financial Corp., USAA and Liberty Mutual Insurance.
Lead investors include State Farm Ventures, Ping An Global Voyager, Pivot Investment Partners, Tola Capital, F-Prime and 2 other investors.
Snapsheet Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | May 2017 | ||
| 3 | Participant | Dec 2013 | ||
| 2 | Participant | May 2019 | ||
| 2 | Lead | Dec 2016 | ||
| 2 | Lead | Dec 2013 | ||
| 2 | Participant | Dec 2016 | ||
| 1 | Participant | May 2019 | ||
| 1 | Lead | Mar 2021 | ||
| 1 | Participant | May 2019 | ||
| 1 | Participant | May 2019 | ||
| 1 | Lead | Jul 2023 | ||
| 1 | Participant | May 2019 | ||
| 1 | Participant | Dec 2016 | ||
This data is available for Pro users. Sign up to see all 18 Snapsheet investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialSnapsheet Competitors
Snapsheet competitors include listed companies like Yidu Tech, Ever Fortune.AI and Airdoc, and private ones like Lassie, DeepJudge and Emergent.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $250M | - | ||
| Publicly listed | $122M | ($4M) | $449M | 1.2x | ||
| Publicly listed | $12M | $4M | $158M | - | ||
| Publicly listed | $26M | ($3M) | $127M | 1.5x | ||
| Private | - | - | $300M | - | ||
| Private | $50M | - | $300M | 6.0x |
Snapsheet Public Comps
Snapsheet is still privately-owned, but its public comps include Vrain Solution, AdvancedAdvT, Echo IQ, ZipRecruiter, eVISO, Coveo Solutions, CS Disco, Value HR, EM Systems Co. and Vitalhub.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $21M | $6M | 14.5x | 11.5x | 49.0x | - | |||
| $72M | $13M | 2.5x | 2.4x | 14.1x | 8.9x | |||
| $65K | ($13M) | 4656.6x | 994.2x | (23.1x) | (26.6x) | |||
| $449M | ($7M) | 0.9x | 0.9x | (62.1x) | 7.3x | |||
| $363M | $12M | 0.7x | 0.6x | 22.8x | 16.6x | |||
| $148M | ($25M) | 1.2x | 1.2x | (7.3x) | 107.6x | |||
| $157M | ($44M) | 1.1x | 1.0x | (4.0x) | (22.1x) | |||
| $65M | $9M | 4.4x | 4.1x | 30.9x | - | |||
This data is available for Pro users. Sign up to see all Snapsheet competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Snapsheet
| When was Snapsheet founded? | Snapsheet was founded in 2011. |
| Where is Snapsheet headquartered? | Snapsheet is headquartered in Chicago, IL, United States. |
| Is Snapsheet publicly listed? | No, Snapsheet is a private, VC-backed company. |
| What is Snapsheet's valuation? | Snapsheet was last valued at $300M in its seed round in July 2023. |
| How much funding has Snapsheet raised? | Snapsheet has raised $105M across 6 funding rounds. |
| What was Snapsheet's last funding round? | Snapsheet's last funding round was a $5M seed round in July 2023, led by State Farm Ventures. |
| Who are Snapsheet's investors? | Snapsheet's investors include Tola Capital, Commerce Ventures, Liberty Mutual Insurance, F-Prime, USAA, Intact Financial Corp., Nationwide Ventures, Ping An Global Voyager, Sedgwick Claims Management Services, State Auto Labs and 8 others. |
| What is Snapsheet's revenue? | Snapsheet's latest recorded revenue is $37M (July 2023). |
| What is Snapsheet's revenue multiple? | Snapsheet's latest valuation implies a 8.1x revenue multiple ($300M valuation on $37M of revenue). |
| Which companies are comparable to Snapsheet? | Companies comparable to Snapsheet include Lassie, Yidu Tech, Ever Fortune.AI, Airdoc, DeepJudge and Emergent. |
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