Advised by Walter Billet Avocats since its creation, Akur8 completes a $120 million Series C fundraising to accelerate the growth of its new generation actuarial platform.
Akur8, the machine learning-powered insurance pricing and reserving platform, today announced that it has secured $120 million in Series C funding, bringing its total investment to $180 million. This latest round was led by One Peak, a leading investment firm that invests in growth-stage technology companies, with participation from Partners Group, one of the largest firms in the markets industry. global private companies, and a historic investor in Guidewire Software, Inc. (NYSE: GWRE). This new fundraising will significantly strengthen Akur8’s ability to expand its product portfolio and fuel its growth in key global markets.
Specially developed for insurers, Akur8 has been revolutionizing non-life insurance pricing since 2019 with transparent Artificial Intelligence (AI). Its fully integrated, cloud-based platform provides insurers with unprecedented speed during the pricing process, allowing them to directly influence financial results and improve risk assessment. With the recent acquisition of the Arius reserving platform, Akur8 further expands its product portfolio and customer base, amplifying the value offered to insurance companies globally.
The new funding secured by Akur8 will be used to fuel product innovation, drive growth leveraging the recent Arius acquisition and accelerate global expansion.
The legal advisers on this deal:
Walter Billet Avocats advised Akur8, with Fabien Billet, partner, Christophe Cussaguet, counsel, and Miguel Goncalves.
Goodwin assisted One Peak, with Thomas Dupont-Sentilles, partner, Louis Taslé d’Héliand and Alex Lecoeur.
Ropes & Gray represented Partners Group, with Hayley Stokes and Charlie Shephard