DocuSketch announces a significant growth investment from Summit Partners to fuel growth of innovative solutions for the property restoration industry
Lakeland, Florida. DocuSketch, a leading provider of process optimization solutions for the North American property restoration industry, proudly announces a minority growth investment from Summit Partners. The new capital will help DocuSketch support customers and partners, and accelerate R&D investments including integrating advanced AI applications into its product portfolio. DocuSketch management will retain majority ownership in the business.
Launched in 2019, DocuSketch offers a comprehensive, all-in-one solution purpose-built for the property restoration industry, featuring 360° documentation, automated scoping, sketching solutions, and estimating services. Today, the company’s solutions are used by over 20,000 restoration professionals and insurance adjusters in North America. Current customers include North America’s largest restoration contractors like ATI Restoration, Paul Davis Restoration and ServiceMaster; insurance carriers; as well as a large base of independent restoration companies.
Ralf von Grafenstein, Founder & CEO of DocuSketch, expressed his enthusiasm for the transformative impact he believes the funding will have on the restoration industry: “We are on a mission to radically transform restoration businesses with the most efficient and easy-to-use process optimization software. At a time when we are experiencing a higher frequency and severity of extreme weather events, DocuSketch aims to streamline the claims process and shortens response times, benefiting the businesses and homeowners impacted by these catastrophic events.”
Martin Merta, Managing Partner with DocuSketch added, “When a loss event occurs, speed and accuracy of damage assessment are paramount. DocuSketch’s solutions are designed to deliver on both of those needs, helping automate time-consuming and error-prone documentation processes and serving as a gateway to engage with reliable, expert services wherever and whenever needed. Our solutions have resonated with the market, and we believe Summit Partners’ investment and deep resources will help us execute on our extensive product roadmap to further empower restoration professionals.”
DocuSketch currently processes more than 40,000 insurance claims each month, and, to-date, has helped streamline more than 750,000 restoration projects. Recently, the company introduced an innovative subscription service for insurance-compliant estimates, and with this funding, DocuSketch is poised to unveil further digital solutions aimed at increasing transparency, eliminating bureaucracy, and promoting trust in the claims process.
“Digital transformation in the home and commercial real estate markets has been a key focus area for Summit for several years, and we are thrilled to partner with the DocuSketch team as they work to modernize and automate critical processes in the property restoration industry,” added Colin Mistele, Managing Director at Summit Partners who has joined the DocuSketch Board of Directors. “With a deeply experienced team who understands the challenges and nuances of the customer and solutions that are designed specifically to meet those needs, we believe DocuSketch is truly driving impact in the market.”
Media Contact DocuSketch
Mark Muschelknautz / Marketing & Communication
Having successfully streamlined and processed over 750,000 insurance claims within the restoration industry, DocuSketch stands as one of the industry’s largest and most rapidly expanding software vendors. We take immense pride in serving a user base exceeding 20,000 restoration professionals, which includes the trust of 8 out of 10 of the largest restoration businesses. They confidently rely on our intuitive all-in-one product suite including advanced features such as 3D imagery, technology-enhanced sketching and scoping, and a proven service to generate insurance-compliant claims. DocuSketch’s investors including Liquid Partners will continue to support DocuSketch in the company’s next phase of growth.
Join us at DocuSketch as we continue to lead the way in transforming the restoration industry through innovation and efficiency. Find more information or book a product demo here.
Explore a career opportunity with DocuSketch by viewing our open job positions.
About Summit Partners
Founded in 1984, Summit Partners is a global alternative investment firm with capital dedicated to growth equity, fixed income, and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 550 companies in technology, healthcare, and other growth industries. Summit maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or Follow on LinkedIn.
Spread out all over North America