Stream Raises $5.3M Seed Round, Bringing Total Funding to $6.8M

Today, we’re excited to announce that Stream has raised a $5.3M seed round led by Spark Capital and joined by Acrew Capital and TTV Capital. The round also included participation from angel investors Sam Hodges, co-founder and CEO of Vouch Insurance and Mike Rosengarten, former co-founder and CTO of OpenGov. This new infusion of capital – combined with our $1.5M pre-seed backing from Y Combinator, NevCaut Ventures, TTV Capital, and Jonathan Crystal — brings the company’s total funding to $6.8M.

Stream's mission is to revolutionize the $50B workers' compensation industry through AI-powered solutions that reduce time, cost, and error in medical document management. Our products, built by former claims adjusters and insurance professionals, empower healthcare professionals, insurers, and attorneys to streamline manual document workflows.

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This funding round is a key milestone for our team, and we are grateful for the support of our customers, partners, and investors to help us continue our mission. Over the past year, we’ve seen remarkable progress:

• Significant product expansion with the launch of Chrono, Chrono+ and Sift
• Increased demand from major insurance carriers, IMEs, and Managed Care companies
• Growing our team to scale with demand

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Transforming Medical Document Management

Since our founding in 2022, Stream’s AI-powered platform has helped clients in workers’ compensation efficiently process massive medical records and extract crucial insights. With this latest round of funding, we’re poised to continue building the future of document understanding.

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Stream offers three flagship products built on over a year of customer validation and testing:

Chrono – Real Time Document Processing Platform

Chrono is our AI-powered platform that allows clients to take full control of their document processing. Through an easy-to-use portal, users can upload medical records, segment documents, review AI-generated summaries, and finalize outputs according to their specific needs. Chrono gives power back to the client, allowing them to process their documents on their own terms.

Chrono+ – Full-Service Medical Chronologies & Summaries

For clients looking for a hands-off approach, Chrono+ is our full-service offering. Simply upload PDFs and we take care of the rest. Our team of medical and insurance experts deliver curated chronologies within 72 hours, providing actionable summaries tailored to each medical professional’s specialty and needs.

Sift – Document Deduplication and Decluttering

One of the biggest pain points in managing medical records is dealing with duplicate or irrelevant pages. Sift automatically detects and removes redundant information, drastically decreasing page count and leaving only the most pertinent data. This not only saves time, but also lowers the costs associated with processing excessive paperwork.

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Looking Ahead: Building for the Future

With this new capital, we’re doubling down on our product and customer success teams, ensuring we deliver even more value to our customers. In 2025, we plan to further enhance our AI-driven platform, making it more powerful and adaptable to the evolving needs of the workers' compensation industry.

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Stream continues to grow as an in-person team with headquarters in San Francisco. We’re passionate about meeting our clients face-to-face and understanding their challenges. Our mission is to help workers' compensation professionals work smarter and faster, and we’re always looking for top talent to join us on this journey.

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To learn more about our products and explore open positions, visit our website www.stream.claims.