CLARA Analytics Secures Funding From Nationwide 

by Kay Aloha Villamor in February 22nd, 2024

CLARA Analytics, a Santa Clara, CA-based provider of artificial intelligence (AI) technology for insurance claims optimization, received an investment.  

SaaS Investors  

The investment was from Nationwide Ventures, part of Nationwide's $350 million fund, bringing CLARA Analytics total funding to $64 million, including the recent Series C.  

Founded in 2016, Nationwide Ventures is a corporate venture capital arm of Nationwide Insurance Company of America based in Columbus, Ohio. The firm prefers to invest in early-stage and late-stage companies. Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm, and life insurance; public and private sector retirement plans, annuities, and mutual funds; excess and surplus, specialty and surety; and pet, motorcycle, and boat insurance.  

CLARA Analytics Use of Funds  

The company will use the funds to support its growth and to fuel insurance claims optimization.  

About CLARA Analytics  

CLARA Analytics is an AI-as-a-service (AIaaS) provider that improves casualty claims outcomes for insurance carriers, MGAs, reinsurers, and self-insured organizations. The company’s platform applies image recognition, natural language processing, and other AI-based techniques to unlock insights from medical notes, legal demand packages, bills, and other documents surrounding a claim. CLARA’s predictive insight gives claim professionals augmented intelligence that helps them reduce claim costs and optimize outcomes for the carrier, customer, and claimant. CLARA’s customers include companies from the top 25 global insurance carriers to large third-party administrators and self-insured organizations. Founded in 2017, CLARA Analytics is headquartered in California’s Silicon Valley.  

Funding Details            

Company: CLARA Analytics, Inc.   

Raised: Undisclosed  

Round: Unknown  

Funding Month: February 2024      

Lead Investors: Nationwide Ventures  

Additional Investors:   

Company Website:   

Software Category: Insurance Claims    






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