Reserv Raises $125M in Series C Funding

The company plans to use the funds to expand its operations and support further development.

Reserv provides TPA services and technology to nearly 200 insurers, corporate captives, MGAs, and brokers, and has grown quickly, reaching $100 million in annual recurring revenue while expanding its platform and improving claims processing with over 500 adjusters on staff.

With new investment from KKR, the company plans to keep scaling its capacity from 500,000 complex claims per year today to 30 million over the next four years, helping automate and support a large part of the property and casualty insurance industry.

Reserv’s Glance™ platform lets customers move all their past and active claims into one central system, where explainable AI helps analyze and manage important claims while scaling both human and automated workflows, allowing companies to replace old claims systems in just a few weeks.

Clients can choose how much automation to use, from fully automated handling of simple claims to more advanced processes for complex cases. In contrast, the platform uses the latest AI tools ready for real use, focusing on helping adjusters and insurers adapt quickly rather than relying on separate, standalone tools.

“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,” said CJ Przybyl, co-founder and CEO. “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.”

Read More:Power Home Remodeling Secures Investment from Bain Capital

“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,” said Patrick Devine, Partner at KKR. “We’re excited to partner with this high-calibre management team, which has the rare combination of innovation, agility, and operational sophistication to rapidly scale to meet customer needs and deliver differentiated outcomes compared to legacy claims handling approaches,” added Elliot Bell, Principal at KKR.

"After scaling York Risk Services into one of the nation's largest TPAs, I've seen virtually every claims model the industry has produced,” said Rick Taketa, Board Member and former CEO of York Risk Services. “What Reserv has built is genuinely different—AI-driven capabilities that go beyond automation to meaningfully improve outcomes for claimants and customers alike. KKR's investment reflects what I've seen firsthand: this is a company positioned to lead the next phase of innovation in claims, with its most significant impact still ahead."

About Reserv

Founded in 2022, by CJ Przybyl and Martha Dreiling, Reserv is an AI based third-party administrator and software provider for property and casualty insurance, helping insurers reduce costs, improve operations, and deliver a better customer experience through modern, scalable claims handling.

About KKR

Founded by Henry R. Kravis and George Roberts, KKR is a global investment firm that provides alternative asset management, capital markets, and insurance solutions, investing across private equity, credit and real assets while supporting growth in its portfolio companies. Its insurance business, managed through Global Atlantic Financial Group, offers retirement, life and reinsurance products.

Read More:Enzo Health Raises $20M in Series A Funding