Aclaimant, a Chicago startup making a platform for employers to report workplace injuries, has raised another round of funding as it works to ramp up marketing and acquire more customers.
The startup announced Thursday that it raised $15 million in Series B equity and debt funding in a round led by Next Coast Ventures.
Adam Rogers, former CEO of Ultimate Software, and existing investors Mercury Fund, KEC Ventures, Royal Street Ventures and Aspen Capital Group also participated in the round.
As part of the deal, Next Coast Ventures Partner Thomas Ball will join Aclaimant's board as a director.
The new financing brings Aclaimant’s total funding to more than $20 million. The startup last raised $10 million in 2020.
Founded in 2013 by David Wald and Michael Schultz, Aclaimant’s software helps companies improve the risk and claims management processes after a workplace injury. The platform caters to multiple industries, including construction, manufacturing, staffing, real estate and hospitality.
The company says it saw record growth in 2020, with monthly active usage increasing by more than 400% last year. Aclaimant participated in Moderne Ventures’ Passport Program accelerator last year. The seven-month program mentors real estate, finance, insurance, hospitality and home services startups.
The new funding will be used to hire more employees, find additional clients, and ramp up sales and marketing efforts.
“Since our founding, we've strongly believed that organizations can reduce their cost of risk while providing a safer environment for employees,” Wald said in a statement. “With safety as a key priority for organizations in today's landscape, this commitment is as strong as ever.”
Before Aclaimant, Wald worked at Baine & Co. as a consultant, and at local VC firm Lightbank as an associate and later as the entrepreneur-in-residence.
