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Socotra is owned by a company called "Socotra Technology, Inc.," which is based in San Francisco, California, USA. Socotra Technology, Inc. is a software company that provides a cloud-based platform for insurance companies. The company's platform offers a range of services, including policy management, claims handling, underwriting, and billing. The platform is built on a modern technology stack, leveraging machine learning and artificial intelligence to provide insurers with the flexibility and agility they need to keep up with changing market demands. Socotra's platform is designed to be highly configurable, allowing insurers to quickly and easily create and launch new insurance products, without the need for extensive coding or IT support. The company is known for its innovative approach to insurance technology, and has received several industry awards for its platform.
Last updated
In 2024, Socotra's revenue reached $25.6M. The company previously reported $20.1M in 2023. Since its launch in 2014, Socotra has shown consistent revenue growth.
Socotra has not publicly disclosed its valuation. The company has raised $93.9M in total funding to date.
Socotra has raised $93.9M in total funding across 6 rounds, most recently a $50M Series C round in 2022.
| Year | Round | Amount | Valuation | % Sold | Source |
|---|---|---|---|---|---|
| 2022 | Series C | $50M | - | - | |
| 2021 | Venture Round | $11M | - | - | |
CEO
Dan Woods is the founder and CEO of Socotra, the first modern, cloud-based platform for technology-driven insurers. Before Socotra, Dan did IT investing and portfolio management for Formation 8 Partners (now 8VC), where he specialized in data platforms and smart enterprise software. Prior to that, Dan’s depth of enterprise experience was honed over his six years with Palantir. There, Dan was an early member of the core engineering team and later transitioned to run Palantir’s partnerships, plus several deployments. He holds a MS in Computer Science from Stanford.
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We do not have customer count information for Socotra yet.
Socotra employs approximately 164 people as of 2026, down from 169 in 2023, including 15 sales reps that carry a quota.
Socotra generates an estimated $25.6M in annual revenue.
The CEO of Socotra is Dan Woods.
Socotra raised $93.9M across 6 rounds.
Socotra has 164 employees.
Socotra is headquartered in San Francisco, California, United States.
Socotra operates across multiple industries. Browse revenue, funding, and growth data for Socotra in each sector below.
All figures on this page are taken directly from interviews or are estimates from public sources and proprietary models. Not financial advice. Read full disclaimer.
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2024 Revenue
$25.6M(Est.)
Funding
$93.9M
Team
164
Founded
2014
| Year | Milestone | Source |
|---|---|---|
| 2024 | Socotra Hit $25.6m revenue in October 2024 | Estimated |
| 2023 | Socotra Hit $20.1m revenue in November 2023 | Estimated |
| 2022 | Socotra Hit $20.2m revenue in November 2022 | |
| 2022 | Socotra Hit $20.2m revenue in March 2022 | |
| 2021 | Socotra Hit $8.2m revenue in November 2021 | |
| 2021 | Socotra Hit $8.2m revenue in April 2021 | |
| 2014 | Launched with $0 revenue |
| 2020 |
| Series B |
| $15.2M |
| - |
| - |
| 2019 | Series A | $5.2M | - | - |
| 2018 | Series A | $5.5M | - | - |
| 2014 | Seed Round | $7M | - | - |
| Year | Milestone | Source |
|---|---|---|
| 2024 | Reached 164 employees (December 2024) | |
| 2024 | Reached 169 employees (October 2024) | |
| 2023 | Reached 169 employees (November 2023) | |
| 2023 | Reached 169 employees (September 2023) | |
| 2023 | Reached 197 employees (July 2023) | |
| 2023 | Reached 181 employees (January 2023) | |
| 2022 | Reached 168 employees (November 2022) | |
| 2022 | Reached 168 employees (March 2022) | |
| 2022 | Reached 181 employees (January 2022) | |
| 2021 | Reached 125 employees (November 2021) | |
| 2021 | Reached 125 employees (August 2021) | |
| 2021 | Reached 98 employees (April 2021) | |
| 2020 | Reached 107 employees (November 2020) |
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