Socotra will use the proceeds of this funding round to further expand product functionality, broaden its reach throughout Europe and Australia, augment customer success infrastructure to support its rapidly growing customer base, and continue extending ecosystem capabilities through Socotra Marketplace—the insurance industry’s first no-code app marketplace enabling instant integrations with third-party technology providers. Socotra provides open APIs, a product-agnostic data model, and out-of-the-box capabilities to manage the entire policy lifecycle, making insurance innovation faster, easier, and more affordable. “In stark contrast, Socotra is API-driven, well-documented, cloud-native, and a true off-the-shelf product. "Socotra is a truly next-generation platform, which allows customers to embrace cloud-native software via APIs and a microservices architecture.