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Letter to the Editor

ProcessClaims Announces $5 Million Funding

ProcessClaims, a technology solutions company serving the insurance claims processing industry, has announced a $5 million round of financing led by Vector Capital in partnership with existing investors.

"ProcessClaims' solutions dramatically lower claims costs, reduce claims severity and decrease claim turnaround time for insurance companies, collision repair providers and their customers," said Val Vaden, Managing Partner of Vector Capital. "Several of the world's largest insurance companies have made long term commitments to use the ProcessClaims solution to gain greater control and insight into their claims and their interactions with the claims supply chain."

Separately, the Company announced that Mr. Vaden joined the ProcessClaims' Board of Directors.

"This latest round of funding represents the continuing validation of our market leadership, business model and team, and enables us to grow faster and serve our current and future customers better," said Paul Farber, CEO of ProcessClaims. "We are excited to have Vector Capital leading this round and to have Val Vaden as a board member."

ProcessClaims has integrated Microsoft's .NET technology in their offering

Vector Capital is a San Francisco-based venture capital firm with over $200 million under management focused on special opportunity investments in software and software-enabled services.

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