Hyperexponential, a London, UK-based pricing decision intelligence (PDI) software provider, has secured $73 million in Series B funding.
SaaS Investors
The round was led by Battery Ventures, with participation from a16z and existing investor Highland Europe.
Founded in 1983, Battery Ventures is a venture capital firm based in Boston, Massachusetts. The firm seeks to invest in companies operating in technology and software companies primarily in the application software, infrastructure software, consumer, industrial technology, and life science tools sectors.
Hyperexponential Use of Funds
The company will use the funds to support its expansion into the United States, where it plans to open an office in New York, and will also be used to invest in new product capabilities to serve growing client demand. The company aims to double its global team to over 200 in the next year.
About Hyperexponential
Hyperexponential is a company that focuses on decision intelligence in the insurance industry. The company product pricing decision intelligence (PDI) platform, hx Renew, enables insurers to leverage large and alternative datasets, develop and refine rating tools rapidly, employ sophisticated machine learning approaches to price risk, and make data-driven pricing decisions at the portfolio and individual level. Hyperexponential serves insurance and reinsurance companies, helping them leverage large and alternative datasets, refine rating tools, and employ machine learning to make data-driven pricing decisions. The company is headquartered in London, with an office in Warsaw.
Funding Details
Company: Hyperexponential, Ltd.
Raised: $73.0M
Round: Series B
Funding Month: January 2024
Lead Investors: Battery Ventures
Additional Investors: a16z and Highland Europe
Company Website: https://www.hyperexponential.com/
Software Category: Insurance Pricing Software
Source: https://www.businesswire.com/news/home/20240111953381/en