Akur8, a Paris, France-based provider of a machine learning-powered insurance pricing and reserving platform, raised $120M in Series C funding.
The round, which brought total investment raised to date to $180m, was led by One Peak, with participation from Partners Group, and Guidewire Software, Inc. (NYSE:GWRE).
The company intends to use the funds to:
- Accelerate product innovation with two new modules:
– Optim, which enables insurers to determine the optimal insurance pricing strategy to meet their business objective, and
– Deploy, its new rating engine, enabling pricing teams to bring their rates into production. - Drive growth by leveraging its recent acquisition of Arius to enter the insurance reserving sector, and
- Accelerate global expansion.
Led by CEO Samuel Falmagne and CCO Brune de Linares, Akur8 provides a suite of pricing and reserving solutions for the non-life insurance industry. Its platform combines technology with actuarial excellence to drive business value, bringing speed, performance, transparency, and reliability to insurers of all sizes.
The company serves 250+ customers across 40+ countries, including AXA, Generali, Munich Re, MAPFRE, HDI, Tokio Marine, and MS&AD. Over 3000 actuaries use it daily to build their pricing models and reserving projections across all lines of business.
FinSMEs
16/09/2024