US – Crowell & Moring Advises ReFocus AI on Strategic Seed Funding Round
Crowell & Moring assisted ReFocus AI, an insurtech specializing in retention management software, in closing a strategic funding round led by Avondale Insurtech Ventures. ReFocus AI aims to transform the insurance industry with predictive analytics technology to enhance policyholder retention. The funding round featured investors like Jetfile Technologies and the 2024 FIRE Accelerator Cohort.
ReFocus AI intends to leverage the funding to enhance its technology and expand operations, furthering its mission to streamline the insurance renewal process. By automating this expensive and time-consuming task, administrative burdens on insurance providers are reduced, enabling them to concentrate on providing outstanding customer service. ReFocus AI’s software assists insurance professionals in identifying policyholders most at risk of account cancellation, potentially increasing retention by up to 5%.
Crowell & Moring served as lead counsel to ReFocus AI in this transaction. The team included partnerJon O’Connell, counsel Justin Lurie, and associate Jonathan Camello.
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