News Release


Client Success: HMB Represents Spraoi in Sale to Global Market Leader in Core Systems for Life, Accident and Health Insurance

A mixture of blue and green.

HMB would like to congratulate DigIn Technologies, LLC d/b/a Spraoi, a leading provider of machine learning capabilities for the Group Life and Employee Benefits industry, and its Co-Founders Karan Mishra, Matthew O’Mara and Santoash Rajaram, on a successful sale to FINEOS Corporation, a global market leader in core systems for life, accident and health insurance.

Spraoi is an insurance technology solutions provider combining big-insurance consulting experience with Silicon Valley technology acumen and offshore capability and scale in India. Its focus is on assisting carrier clients with the two most pressing needs confronting them today: how to leverage their data to optimize outcomes using the patent pending Spraoi platform; and how to better engage customers throughout the lifecycle using their customer engagement infrastructure. Spraoi has also created an innovation framework that provides accountability from concept through execution.

Karan Mishra, co-founder of Spraoi said, “Spraoi’s technology offering, and services have allowed our clients to successfully optimize outcomes and see measurable ROI. Our deep machine learning, data and customer experience capabilities coupled with the robust FINEOS Platform enables clients to have a one-of-a-kind, pre-integrated platform to get the most out of their technology investments.”

The transaction closed on May 11, 2021. As FINEOS and Spraoi integrate the business over the coming months, the priority will be to continue to operate on a business as usual basis in order to meet customer needs.

Spraoi was represented by HMB’s Mergers & Acquisitions Team, led by Corporate Partners Kate Kanabay and Lawrence J. Feller and Corporate Associate Joshua A. Haberkorn.

Read the full press release by BusinessWire here.

Learn more about HMB’s Mergers & Acquisitions practice here.

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