Proof of Usefulness Report

Socotra

Analysis completed on 1/30/2026

+625
Proof of Usefulness Score
Category Standard

Socotra is a Series C insurtech company with ~$96M in funding and verified enterprise traction (customers include AXA, Mutual of Omaha). It operates in the high-value insurance core platform market with estimated annual revenue of ~$24M. However, the project submission itself was of extremely low quality, containing lazy and inaccurate claims (e.g., 'most people have used my product' and 'everyone' audience). The score reflects the company's strong real-world fundamentals and scale, significantly dampened by the poor submission quality which necessitated heavy reliance on external verification.

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Score Breakdown

Real World Utility+225.0
Audience Reach Impact+85.0
Technical Innovation+102.0
Evidence Of Traction+190.0
Market Timing Relevance+90.0
Functional Completeness+2.5
Subtotal+694.5
Usefulness Multiplierx0.9
Final Score+625

Project Details

Project URL
socotra.com
Description
Socotra is focused on delivering agility to the trillion-dollar global insurance industry. Socotra works with global insurers to modernize their technology, making it easier for them to focus on creating innovative products to grow their business.\n\nServing one of the world's largest and most technologically neglected industries, Socotra's mission is to provide insurers with a modern, enterprise-grade core system that enables them to rapidly develop and distribute products that better serve their customers.\n\nTo take its mission to the next level, Socotra is expanding rapidly. It is seeking to grow its team and are looking for candidates who are passionate about making substantive change.

Algorithm Insights

Market Position
Strong market validation with clear user adoption patterns
User Engagement
Documented reach suggests active user community
Technical Stack
Modern tech stack aligned with sponsor technologies

Recommendations to Increase Usefulness Score

Document User Growth

Provide specific metrics on user acquisition and retention rates

Showcase Revenue Model

Detail sustainable monetization strategy and current revenue streams

Expand Evidence Base

Include testimonials, case studies, and third-party validation

Technical Roadmap

Share development milestones and feature completion timeline