French insurance coverage expertise firm Akur8 has raised $25m in a brand new funding spherical, which was joined by new investor FinTLV.
The spherical, which brings the overall funds raised to exceed $60m, additionally noticed participation from Guidewire Software program and current investor BlackFin Capital Companions.
Akur8 gives a machine learning-powered pricing answer to reinforce insurers’ pricing capabilities by automating technical and business premium modelling.
The insurtech claims that it presently serves greater than 100 prospects similar to AXA, Generali, Tokio Marine North America Providers (TMNAS) Munich Re, and MS&AD.
In line with Akur8 chief consumer officer Brune de Linares, the funds can be used to additional expedite the transformation of insurance coverage pricing, assist growth in key markets, together with the US and APAC, and supply property and casualty (P&C) and well being carriers with a complicated, built-in pricing answer.
FinTLV managing associate Gil Arazi stated: “We take delight in investing in solely the highest insurtech firms within the business, and Akur8 has confirmed time and again that their highly effective insurance coverage pricing software program stands above the remaining.”
Akur8 CEO Samuel Falmagne stated: “To additional allow and improve our capabilities, we not too long ago carried out a brand new fundraising to carry further strategic companions to the desk. FinTLV Ventures, a number one international enterprise capital agency with an in depth community investing in high insurtech and fintech firms, selected to put money into Akur8 – a strong endorsement of our instant and future potential.”
In July this yr, Cypress Property & Casualty Insurance coverage Firm chosen Akur8 to bolster its pricing capabilities throughout the non-public and business strains of enterprise.
