Akur8, a Paris, France-based machine learning-driven insurance pricing and reserving platform, has secured $120 million in its Series C funding round, bringing its total funding to $180 million.
Investors
The round was led by One Peak, with contributions from Partners Group and existing investor Guidewire Software.
One Peak is a leading growth equity firm with $2.0 billion in assets under management, specializing in technology companies in the scale-up phase. It provides growth capital, operational expertise, and access to an extensive network of exceptional entrepreneurs, aiming to transform innovative and rapidly growing businesses into category-defining leaders.
Akur8 Use of Funds
The new funding will support Akur8’s product innovation, including the launch of two new modules—Optim and Deploy—and accelerate global expansion, particularly in North America. Akur8 also plans to advance its new Arius reserving platform and enhance its R&D efforts.
About Akur8
Founded in 2019, Akur8 offers a next-generation pricing and reserving platform that combines cutting-edge technology with actuarial excellence to drive business value. The platform uses transparent AI to enhance risk assessments and financial outcomes, aiming to revolutionize non-life insurance pricing. Akur8 serves over 250 customers across more than 40 countries, including AXA, Generali, Munich Re, MAPFRE, HDI, Tokio Marine, and MS&AD and more than 3,000 actuaries use Akur8 daily.
Funding Details
Company: Akur8 SAS
Raised: $120.0M
Round: Series C
Funding Date: September 2024
Lead Investor: One Peak
Additional Investors: Partners Group, Guidewire Software
Company Website: https://www.akur8.com/
Software Category: Insurance Pricing
Source: https://www.globenewswire.com/news-release/2024/09/16/2946355/0/en/Akur8-Secures-120-Million-in-Series-C-Round-to-Accelerate-Growth-of-its-Next-Generation-Actuarial-Platform.html