Germany-based insurance processing automation software creator Omni:us has increased its series A round to $35.5m with a $13m extension led by CommerzVentures, the corporate venturing arm of financial services firm CommerzBank.
The second tranche also featured Viola FinTech and Uniqa Ventures. Target Global had led the $22.5m first close in October 2018 with contributions from Talis Capital, Anthemis, MMC Ventures and Unbound.
Founded in 2015, Omni:us has developed a software platform for insurance claim processing that extracts images and text using artificial neural networks to reduce the workload for human claims agents. The extra funding will support an international growth drive centred on the US.
Anthemis Baloise Strategic Ventures, a strategic investment partnership between venture investment platform Anthemis and insurance provider Baloise, supplied an undisclosed amount for the company in early 2018 after Omni:us had joined the first batch of accelerator Plug and Play Insurtech.
Omni:us, then called SearchInk, had secured $4.5m of seed capital in November 2016 from backers including investment bank IBB Berlin and private investor Michael Schmitt, after raising an undisclosed sum from VC fund La Famiglia earlier in the year.