The round was led by growth equity firm One Peak, with additional participation from Partners Group and existing investor Guidewire Software, Inc. (NYSE: GWRE).
The capital infusion will enable Akur8 to expand its product portfolio and drive its growth across global markets, particularly in North America. Since its launch in 2019, Akur8 has transformed non-life insurance pricing by leveraging machine learning to help insurers price faster and enhance risk assessments. Its cloud-based platform allows insurers to optimize pricing strategies, improving financial outcomes.
Humbert de Liedekerke Beaufort, Co-Founder and Managing Partner of One Peak, said: “Akur8 offers a truly unique cloud-based end-to-end actuarial platform, which leverages proprietary machine learning algorithms to inject speed and accuracy to insurers’ pricing process, whilst ensuring full transparency, auditability and control over the models created. We have been particularly impressed by Akur8’s user-friendly interface, ease of deployment, and reputation among the world’s leading insurers for its outstanding customer service. We look forward to working closely with Akur8’s seasoned executive team as they chart the next chapter of the company’s global expansion, market leadership, and innovation journey.”
The funding will support the development of two new modules: Optim, which helps insurers refine pricing strategies, and Deploy, a rating engine that simplifies bringing rates into production. The acquisition of Arius, a reserving platform, will also accelerate Akur8’s entry into the insurance reserving market, bridging the gap between reserving and pricing.
With the new backing, Akur8 plans to invest in R&D, scale its product offerings, and further its global expansion, solidifying its position in key markets and expanding its customer base.
“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 and staying ahead of industry trends to offer an unparalleled, integrated actuarial platform for insurers globally,” stated Samuel Falmagne, CEO and Co-Founder of Akur8.
Brune de Linares, Chief Client Officer and Co-Founder of Akur8, also commented, saying: “This latest round of funding will empower us to better meet our customers’ evolving needs, enhance their operational efficiency, and equip them with innovative tools to thrive in an increasingly competitive insurance landscape. We are excited about the growth opportunities and advancements this investment will unlock for our continued success.”
Pierre Curis, Private Equity Technology, Partners Group, added: “Akur8 has developed a differentiated, next-generation pricing platform that benefits from the increasing push for sophistication among insurers and from the growing adoption of new technologies. We are excited to support an ambitious management team committed to innovation and customer satisfaction as they embark on this next exciting phase of growth.”
Walter Billet Avocats acted as legal advisor for Akur8 in this transaction and has been advising the company since its creation. Perella Weinberg Partners served as financial advisor for Akur8 in this transaction.
Source: Akur8
