Reserv, an AI-native third-party administrator (TPA) and software provider for the property and casualty (P&C) insurance market, has secured $125m in a Series C round.
The investment round was led by KKR, with Bain Capital Ventures and Flourish Ventures also contributing alongside a number of strategic partners and clients.
The capital is intended to fuel a dramatic expansion of Reserv’s claims processing capacity, with the company targeting growth from 500,000 complex claims handled annually today to 30 million within the next four years, a volume that would cover a meaningful share of the non-field-based commercial P&C claims market.
KKR’s contribution is being channelled primarily through its Next Generation Technology Growth strategy, which draws on the firm’s longstanding track record in technology investing and its broader experience across the insurance value chain.
Established in 2022, Reserv has scaled at pace since its founding, achieving $100m in annual recurring revenue (ARR) and consistently more than doubling its claims processing capacity year on year. The company now has a workforce of over 500 claims adjusters and counts nearly 200 insurers, corporate captives, MGAs, and brokers among its client base.
At the heart of Reserv’s technology offering is the Reserv Glance™ claims platform, which consolidates both historical and live claims data into a single centralised database. The platform deploys fully explainable AI to assess and act on priority claims, and is designed to allow clients to retire legacy systems within a matter of weeks.
Customers can determine their preferred level of automation, from end-to-end automated handling of routine claims to a more guided approach for those requiring greater complexity. Reserv describes its operational model as “post-AI”, one where the latest AI tools are immediately embedded into the platform in a production-ready state, rather than developed as standalone features bolted on later.
Reserv co-founder and CEO CJ Przybyl said, “We started this company to prove how seamless claims processing could be if technology wasn’t the bottleneck – with ongoing feature evolution instead of constant system overhauls. And our focus is not just on claims processing tools, but automation of the entire organization.
“Reserv has now reached a scale – in claims processing capacity, technology velocity, data accumulation, and people transformation capabilities – where we can automate even the most complex claims. This enables an adjuster-led, empathetic experience, with every ‘i’ dotted and ‘t’ crossed with the support of AI and built on an infinitely scalable, purpose-built platform and flexible tech stack.”
KKR partner Patrick Devine said, “What Reserv has done from an AI and operational perspective to deliver faster and better quality outcomes for its customers is truly differentiated in the market.”
Copyright © 2026 FinTech Global
