How Socotra CEO Dan Woods grew Socotra to $25.6M revenue with a 164 person team in 2024.

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 Dec 19, 2024

Socotra Revenue

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.

Year	Milestone
2024	Socotra Hit $25.6m revenue in October 2024
2023	Socotra Hit $20.1m revenue in November 2023
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

Socotra Valuation, Funding Rounds

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
2022	Series C	$50M	-	-
2021	Venture Round	$11M	-	-
2020	Series B	$15.2M	-	-
2019	Series A	$5.2M	-	-
2018	Series A	$5.5M	-	-
2014	Seed Round	$7M	-	-

Socotra Employees & Team Size

Socotra employs approximately 164 people as of 2026, down from 169 in 2023.

Socotra has 164 total employees in different roles and functions and 15 sales reps that carry a quota.

Year	Milestone
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)

Founder / CEO

Dan Woods

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.

Contact via Linkedin

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Customers

We do not have customer count information for Socotra yet.

Frequently Asked Questions about Socotra

What is Socotra's revenue?

Socotra generates $25.6M in revenue.

Who is the CEO of Socotra?

The CEO of Socotra is Dan Woods.

How much funding does Socotra have?

Socotra raised $93.9M.

How many employees does Socotra have?

Socotra has 164 employees.

Where is Socotra headquarters?

Socotra is headquartered in San Francisco, California, United States.

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Compare Socotra to the industry

Socotra operates across multiple industries. Browse revenue, funding, and growth data for Socotra in each sector below.

Source Attribution

Source: all data was collected from GetLatka company research and founder interviews. Revenue, funding, team, and customer figures are presented as company-reported or GetLatka-estimated metrics where the profile data identifies them that way.

Company data last updated Dec 19, 2024.

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