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A Sydney-based startup co-founded by a former supply chain executive at Australia's largest insurer has raised $1 million in pre-seed funding, as Lodgicl looks to accelerate development of its property assessment technology.
Founded out of venture capital (VC) fund Antler's 12th Australian cohort, Lodgicl aims to simplify assessments at a time when home insurers are under pressure to improve claims handling, customer outcomes and supplier
coordination.
The company has developed a guided mobile app where field teams can capture structured damage data that is processed by Lodgicl's proprietary policy engine, converting insurer product disclosure statement (PDS) documents into "decision-ready logic".
The startup claims early pilots have already begun with partners that handle 50,000 claims annually, including boutique repairers, challenger brands, and one of Australia’s largest national players in the sector.
The $1 million liquidity injection, secured in a pre-seed round led by Black Nova with follow-on participation from Antler via its rolling capital agreement, will also be used to grow the Lodgicl team.
Lodgicl was co-founded by former Insurance Australia Group (ASX: IAG) supply chain executive manager Ian Tulloch, alongside computer scientist Keith Player who helped scale Nuix (ASX: NXL) scale from startup through to its initial public offering (IPO) in 2020.
"I always suspected I could drive more meaningful change from the other side of the table," says Tulloch.
"After seeing the gaps firsthand as a supplier, it became obvious that solving this at scale needed venture-backed execution speed.
"The complexity and impact of these supply chains demand more than incremental improvement: they need the next generation of infrastructure to complement the next generation of insurance products. That’s what we’re here to deliver."
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