Akur8 Secures $120 Million in Series C Funding to Drive Global Growth and Innovation

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October 2024 — Akur8, the AI-powered insurance pricing and reserving platform, has successfully closed a $120 million Series C funding round, bringing its total raised capital to $180 million. The round was led by One Peak with participation from Partners Group and Guidewire Software, Inc. This new investment will fuel Akur8’s rapid growth, enabling it to expand its product offerings and strengthen its global market presence, particularly in North America.

Since its inception in 2019, Akur8 has transformed non-life insurance pricing by leveraging transparent AI to enable insurers to create faster, more accurate pricing models. The company’s cloud-based, fully integrated platform is designed to empower insurers to improve financial outcomes while enhancing risk assessment and pricing accuracy.

The Series C funding will be primarily directed towards research and development (R&D) to further enrich Akur8’s platform with two new modules: Optim and Deploy. These additions will accelerate the platform’s ability to optimize pricing strategies and streamline the deployment process for insurance carriers.

Akur8 is also entering the insurance reserving sector following its recent acquisition of the Arius reserving platform. This strategic move aims to bridge the gap between reserving and pricing, positioning Akur8 as a comprehensive solution for insurers looking to streamline both processes through AI and SaaS innovation.

Global Growth and Market Expansion
The new funding will also support Akur8’s strategic expansion into key global markets, with a strong focus on North America. By establishing a stronger presence in this region, Akur8 will access new customer segments and tailor its platform to meet the unique demands of local insurers.

“We are thrilled to partner with One Peak and Partners Group, two leading investment firms that share our vision for transforming the insurance industry through innovation,” said Samuel Falmagne, CEO and Co-Founder of Akur8. “This funding allows us to accelerate product development and stay ahead of industry trends, delivering an unparalleled, integrated actuarial platform to insurers worldwide.”

Investor Confidence and Market Leadership
The confidence of Akur8’s investors reflects its position as a leader in insurtech innovation. Humbert de Liedekerke Beaufort, Co-Founder and Managing Partner at One Peak, praised Akur8’s unique cloud-based platform: “Akur8 offers a truly innovative end-to-end actuarial platform, powered by machine learning algorithms that enhance insurers’ pricing capabilities with speed, accuracy, and full transparency. We are impressed by Akur8’s ease of deployment, intuitive interface, and its reputation for outstanding customer service. We are excited to support their next phase of growth.”

Pierre Curis from Partners Group echoed this sentiment: “Akur8 has developed a next-generation platform that aligns perfectly with insurers’ need for more sophisticated pricing and reserving tools. We are excited to be part of their journey as they continue to push the boundaries of innovation and customer satisfaction.”

With this latest funding, Akur8 is well-positioned to scale its operations and continue driving transformation in the insurance industry through cutting-edge technology and a customer-first approach.

About Akur8:
Akur8 is a leading insurtech company that combines machine learning with transparency and control to revolutionize insurance pricing and reserving. The Akur8 platform helps insurers optimize their pricing models with unprecedented speed and precision, ensuring full auditability and compliance.

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