ClaimScore Secures $3.15 Million in Seed Funding Revolutionizing Class Action Lawsuits with AI-Powered Fraud Detection
ClaimScore, a trailblazing startup founded in 2022, has achieved a significant milestone by securing $3.15 million in seed funding. The primary investor leading this round is ROC Venture Group, a prominent private investment firm headquartered in Naples, Florida. Notably, the funding round surpassed expectations, oversubscribing by $1.15 million, indicative of robust investor confidence in ClaimScore’s innovative vision and potential.
At its core, ClaimScore is dedicated to leveraging artificial intelligence to combat fraudulent claims within class action lawsuits, addressing a critical need in the legal landscape. As the sole software product singularly focused on resolving claims fraud in class action settlements, ClaimScore has already made substantial strides since its inception. The company proudly reports contributing to the prevention of fraudulent payouts amounting to an impressive $340 million, underscoring its efficacy and impact within the industry.
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The founding team of ClaimScore comprises seasoned professionals with diverse backgrounds and expertise. Donald Beshada, the company’s president, brings over two decades of experience as a class action litigator, offering invaluable insights into legal intricacies. CEO Bob Gallo, a serial entrepreneur with a background in financial advisory services, provides strategic direction and operational expertise. Additionally, Bryan Heller, a seasoned AI tech entrepreneur, spearheads product development, driving innovation within the company.
The infusion of capital from the seed funding round will fuel ClaimScore’s growth initiatives, with a particular focus on expanding its offerings for law firms, in-house counsel, and claims administrators. With a steadfast commitment to integrity and transparency within class action settlements, ClaimScore is poised for continued success and innovation in the legal tech sector, heralding a new era in combating claims fraud.
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