In 2019, we at FirstMark had the privilege of investing in EvolutionIQ, a company whose vision captivated us from the outset. Besides the obvious opportunity to back a super compelling team building a few blocks away from us in New York City, their innovative approach to leveraging cutting-edge advancements in machine learning and AI to transform the multi-trillion dollar insurance market stood out immediately. EvolutionIQ’s early vision was clear: to redefine insurance operations with a level of precision and efficiency previously unseen in the sector, and do so by giving the actual practitioners superpowers. 

Over the years, EvolutionIQ has not only delivered on its early promise but has far exceeded it. They’ve set the standard for innovation in the industry, consistently generating significant ROI for the largest insurers in the world. By tackling complex challenges with unmatched technological expertise, EvolutionIQ has crafted a product that is both highly effective and deeply trusted by its users.

Today, EvolutionIQ is the market leader in disability insurance claims automation while innovating groundbreaking new products in workers’ compensation. Their market position reflects their unparalleled ability to address industry pain points with superior solutions. Following this incredible success and clear trajectory, the opportunity to partner with a world-class organization like CCC will be a great accelerant in achieving EvolutionIQ’s vision and this transaction validates the company’s status as a highly differentiated product that has transformed their core market.

At FirstMark, we remain deeply committed to the transformative potential of AI across the largest verticals driving the global economy. EvolutionIQ exemplifies this commitment, and Jonathan, Mike and Tom have shown how visionary leadership and groundbreaking technology can reshape industries and deliver meaningful value to all stakeholders. We are incredibly proud to have been part of their journey and look forward to watching their continued success as they enter this exciting new chapter.