AI insurtech startup EvolutionIQ was acquired by CCCIS for $730M, marking one of the first sizable exits of an AI application. Few notes:

• AI-powered platform for disability and injury claims resolution started in 2019
• Expected ~$45-50M in revenue next year at 75%+ gross margins
• ~95% logo retention, >150% net dollar retention
• Acquired for ~15-16x NTM revenue
• $10B in claims processed/yr; used by 7 of top 15 disability carriers