For Sorcero, 2020 Was A Year Of Growth And New Milestones

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Dec 28, 2020 8:30:00 AM
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While 2020 was a challenging year for everyone, Sorcero experienced a series of growth milestones and continued to build out the unique capabilities of the Language Intelligence Platform. As a company, we’ve brought on new investors and customers, attracted a number of accolades, and expanded our talented team. Below is a list of some of Sorcero’s exciting accomplishments and important events over the past year. Our team is looking forward to even better things to come in 2021!

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Plug & Play Named Sorcero A Top 10 InsurTech Company

In January, Plug & Play named Sorcero as one of the Top 10 InsurTech companies poised to drive changes in the insurance industry in 2020. Sorcero was selected for the list just months after jumping into the InsurTech space by applying its unique Language Intelligence technology to solving business problems in the insurance industry. Plug & Play invited Sorcero to participate in its InsurTech program, serving to connect the company with advisors, customers, and investors. As an innovation platform, Plug & Play Tech Center runs the world’s leading insurtech accelerator, enabling select startups to pitch directly to executives and innovation teams at the world's largest insurance corporations.

Sorcero Expanded Into The New York Insurance Market With Selection By InsurTech NY

In October, Sorcero was selected to participate in the highly competitive InsurTech NY growth accelerator program. This marked Sorcero’s entrance into the New York Insurance market, one of the world’s largest. InsurTech NY is one of the leading organizations fostering innovation of insurance technology in the New York City metro area. Through the program, Sorcero was able to demonstrate the capabilities of its Language Intelligence technology to twenty-two of the insurance industry’s top carriers, brokers, and investors.

Sorcero Entered A Three-Year Partnership With the electrical training ALLIANCE (eTA)

In March, Sorcero partnered with eTA, the nation's largest electrical training program, to develop the next generation of remote digital content delivery, training, and performance support. The partnership is enabling the transition from a time-based to competency-based knowledge transfer model, representing a major milestone in the application of AI augmentation to support critical sectors that require advanced jobs training. Together, Sorcero and eTA are harnessing AI to create more well-paid job opportunities and faster pathways into the skilled trades. This is one of the largest applications of Language Intelligence to an industry-wide training program, one that supports 70,000 electrical contracting firms and 350,000 electrical workers.

Sorcero Expanded Into Boston Insurance Market With Selection By MassChallenge Fintech

Sorcero was selected to participate in MassChallenge Fintech, a program within a global network of startup accelerators. The selection marked Sorcero's entrance into the financial services market, where the Language Intelligence Platform is powering intelligent workflows for life, health, and property & casualty insurance. Through the program, Sorcero was able to work 1-on-1 with some of the leading companies and organizations to tackle the specific challenges that the industry is facing. 

Sorcero Selected For Partnership With Roche Diagnostics In Startup Creasphere Program, And Won Award For Best Pitch

This summer, Sorcero was selected to participate in Startup Creasphere, an industry-leading digital health accelerator in the EU, where the company was awarded Best Virtual Pitch. This led to a partnership between Sorcero and Roche, a global pioneer in pharmaceuticals and diagnostics. The two companies are co-developing an intelligent system to manage medical guidelines on a global scale. Jorge Rubio, Roche's Senior Project Leader of Digital Health Solutions, praised the benefits of Sorcero's Language Intelligence technology. "Sorcero’s Natural Language Processing Suite is helping us to automate the maintenance of medical guidelines," said Rubio. "With Sorcero’s technology, we can rapidly identify changes in new versions of medical guidelines and we can adapt smart testing algorithms accordingly."

Sorcero Raised A $3.5M Bridge Round

In June, Sorcero raised $3.5M from a consortium of international and domestic investors led by Leawood Venture Capital and WorldQuant Ventures, among others, as well as participation by existing investors. The funds supported the continued development of the Sorcero Language Intelligence platform for insurance and life science companies. The capital infusion served as a bridge to a Series A round of funding. 

Sorcero Won DC Inno’s 2020 B2B Blazer Award

In August, Sorcero was honored by DC Inno with the 2020 B2B Blazer award after being named to the organization’s "50 On Fire" list. The annual awards from DC Inno recognize the top disruptors and newsmakers spurring innovation across the greater Washington, D.C. area. This was Sorcero’s second “On Fire” recognition from DC Inno since the company was founded three years ago.

Sorcero Continued Expanding The D.C.-Based Team And Added Industry-Leading Experts To The Advisory Board

Earlier this month, Sorcero announced the addition of two exciting new members to the company’s advisory board, as well as a new team member coming on to its rapidly growing D.C.-based team. Ketan Shah was hired as VP of Product, and Helen Johnson and Daniel Shenfeld are joining the advisory board. Ketan Shah brought extensive expertise in B2B solutions and unstructured data management, most recently heading OpenText's B2B Messaging portfolio of products where he introduced new global products. Helen Johnson is currently the Chief Technology Officer at Data Dynamics and previously served as the Chief Data Officer and Head of Data Science Technology at AIG. Daniel Shenfeld, Ph.D., is a data science executive with over a decade of experience leading product-oriented data science and AI organizations at leading venture-backed life sciences and financial services startups.

Sorcero Named As A Startup Expected To Boom In 2021 By Business Insider

Earlier this week, Sorcero was named as one of the startups expected to boom in 2021 in Business Insider. Venture capital firms were asked to pick companies that they viewed as the most likely to have the most success in the coming year. Sorcero was named by Chris Sklarin of Alumni Ventures Group. "Sorcero has incredible insights into markets and how to build technology that is powerful and differentiated," said Sklarin. "In 2021, I expect them to smash through their targets and make serious strides towards transforming decision-making for key technical industries that power the world." 

More stories from 2020

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