Uruguayan SaaS Foliume closed a $1M round led by Pitchdrive and Íope Ventures, Wayra, and Telefónica Seguros‘ investment vehicle.
Founded by Martín Fagioli and Guillermo Vergara in 2022, Foliume automates insurance industry processes with artificial intelligence. Its AI assistant automates traditional manual tasks like quoting policies, renewing contracts, and managing claims. It also processes unstructured information from PDFs and emails, allowing insurance teams to focus on customer interactions.
Foliume will use the funds to strengthen its sales team in Madrid and expand its engineering hub in Uruguay.
Foliume has a 12-person team and currently works with clients in Spain, Germany, and Portugal, and plans to expand to other countries in Europe.
Read more on Startups Latam