This latest injection of capital brings Akur8’s total funding to a remarkable $60 million, reaffirming its status as a dynamic force in the industry.
This latest funding round marks a milestone for Akur8, occurring four years after the company initially introduced its platform to the commercial market. Notably, it introduces a new strategic investor into Akur8’s ecosystem, namely FinTLV. Hailing from Tel Aviv, FinTLV is a globally recognized venture capital fund with a specialized focus on both insurtech and fintech innovations. This collaboration signifies the emergence of a potent partnership poised to further propel Akur8’s innovative offerings within the insurance sector.
In addition to FinTLV’s involvement, the funding round also sees participation from Guidewire Software, Inc. (NYSE: GWRE), a prominent player in the industry. This collective investment effort includes contributions from Akur8’s historical investor, BlackFin Capital Partners, further underscoring the industry’s confidence in Akur8’s mission and vision.
As Akur8 embarks on this exciting new chapter alongside FinTLV, the collaboration is set to kick off with a momentous joint in-person event scheduled to take place in Tel Aviv on September 4. This gathering is set to bring together 120 actuaries representing Israel’s insurance industry. It will be a pivotal part of the larger Insurtech Israel 2023 Global Summit, serving as a prime platform for global insurance industry experts to connect and foster collaborative endeavors. The event promises to be a significant milestone in the partnership’s journey, marking the beginning of innovative endeavors in the insurtech space.
This latest funding round and strategic partnership underscore Akur8’s commitment to revolutionizing insurance pricing through cutting-edge AI technology and collaborative ventures, further cementing its position as a leading player in the insurtech landscape.
Speaking about the new investment, Brune de Linares, Chief Client Officer at Akur8, said: “This latest milestone will enable us to accelerate the transformation of insurance pricing even further, fuel our growth in key markets such as the US and APAC, and equip P&C and health carriers with a state-of-the-art, integrated pricing solution that we have been building and refining tirelessly.”
“To further enable and enhance our capabilities, we recently conducted a new fundraising to bring additional strategic partners to the table. FinTLV Ventures, a leading global venture capital firm with an extensive network investing in top insurtech and fintech companies, chose to invest in Akur8 – a powerful endorsement of our immediate and future potential,” noted Samuel Falmagne, CEO of Akur8 (pictured).
Gil Arazi, Managing Partner at FinTLV agreed. “We take pride in investing in only the top insurtech companies in the industry, and Akur8 has proven again and again that their powerful insurance pricing software stands above the rest.”
Source: Akur8
