Omaha National Raises $45M, Will Transition to Being Direct Workers’ Compensation Writer

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Technology-enabled workers’ compensation and payroll services provider Omaha National Group, Inc. announced a $45 million Series B round led by Accomplice. The company said it plans to use the funds to support its transition to operating as a direct insurance writer and to continue the expansion of its proprietary software.

Omaha National is currently a managing general agency offering coverage from Preferred Professional Insurance Co.

“We see an unmet need in workers’ compensation for a company that employs advanced technology to achieve better claim outcomes and superior underwriting results,” said Omaha National President and CEO Reagan Pufall. “We’ve achieved a lot in the past five years but we’re just getting started.”

Since its launch in 2016, the MGA has grown to more than 190 employees and more than $120 million in program premiums. It offers coverage through more than 2,500 agencies.

Investors HighSage Ventures and Tull Investments joined Accomplice in the $45 million Series B round. Agman, a Chicago-based investment firm, remains the principal and founding investor.

Omaha National touts a proprietary software that it says enhances it operations to better help customers and injured workers, while generating “consistently compelling loss ratios.”