Akur8, the multi-national machine learning-powered insurance pricing and reserving platform, has secured $120 million in series C funding – bringing its total raised investment to $180 million.
This latest funding round was led by One Peak, a leading growth equity firm investing in software scale-ups, with participation from Partners Group, one of the largest firms in the global private markets industry acting on behalf of its clients and historical investor Guidewire Software.
The new funding will significantly bolster Akur8’s ability to expand its product portfolio and fuel its growth in key global markets.
Developed explicitly for insurers, Akur8 – which has North American offices in New York, Atlanta and Montreal, has been revolutionizing non-life insurance pricing with transparent AI since 2019.
With the recent acquisition of the Arius reserving platform, Akur8 further expands its product portfolio and customer base, amplifying the value delivered to insurance carriers worldwide.
The new funding will be used to fuel product innovation, drive growth by leveraging Akur8’s acquisition of Arius and accelerate global expansion.
In addition, the funding will be instrumental in driving Akur8’s strategic expansion into key growth markets – particularly in North America.
“We look forward to collaborating closely with our new investors One Peak and Partners Group, two leading investment firms that share our vision for innovation and excellence. With their support, we are committed to accelerating our product development efforts to offer an unparalleled, integrated actuarial platform for insurers globally,” said Samuel Falmagne, CEO and Co-Founder, Akur8.
