ILC ARTICLE

Nuvalaw secures major funding boost

2nd November 2023

Claims resolution platform Nuvalaw has raised £2.47m in pre-series A financing.

The funding, which was led by Semantic Capital via a blend of equity and debt, will be used to develop its cloud-based solution to address a wider range of legal issues using AI, while also accelerating its move into the US market.

Willie Pienaar, Nuvalaw’s Chief Executive, said, “The backing of Semantic Capital is a great vote of confidence in the future of Nuvalaw. It will enable us to build on the successes of the last few years and help take Nuvalaw to the next stage of our business development internationally, including looking at building new products in the UK and how we can support US-based insurers and claims firms to slash their costs and speed up claims resolution.”

By handling and structuring documentation and interactions, Nuvalaw’s platform cuts the resolution of complex insurance claims from over a year down to just a few days in total, creating cost savings of up to 80%.