Akur8 raises $120m to fuel its next-gen actuarial platform growth

Akur8, a machine learning-powered insurance pricing and reserving platform, has secured $120 million in series C funding which will significantly bolster the company’s capacity to broaden its product portfolio and drive its expansion within global markets.

With this latest funding round, Akur8 brings its total raised investment to $180 million.

Launched in 2019 and developed explicitly for insurers, Akur8 has been revolutionising non-life insurance pricing with transparent AI, using a cloud-based, fully integrated solution that enables insurers to price policies at unprecedented speed, directly impacting their financial performance and improving risk assessments.

Additionally, Akur8’s recent acquisition of the Arius reserving platform, further allows the company to expand its product portfolio and customer base.

The new funding will be used to fuel product innovation, drive growth by leveraging Akur8’s recent acquisition of Arius, and to accelerate global expansion.

Brune de Linares, Chief Client Officer and Co-Founder of Akur8, said: “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.”

This latest funding round was led by One Peak, a 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, Inc.

Samuel Falmagne, CEO and Co-Founder of Akur8, stated: “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.”

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