Akur8 closed a $30 million Series B on 17 June 2021, bringing total funding to $42 million, the company said. The round closed about 15 months after its Series A led by BlackFin Capital Partners and MTech Capital; both reinvested in the Series B.
Founded in 2018 and commercialised in 2019, Akur8 said at the time it had more than 30 customers across 10 countries — naming AXA, Generali, Munich Re, Canopius, Tokio Marine Kiln, Wakam, wefox and Matmut among them — with about 350 daily users in insurer pricing teams. The company then employed about 50 people across Paris, London and New York.
Proceeds were earmarked for US expansion, an Asia-Pacific presence planned for 2022, and product development across the full pricing suite, including US-tailored features. Co-founder and chief executive Samuel Falmagne and co-founder and then chief actuary Guillaume Beraud-Sudreau both commented in the announcement on client traction and the funding. Valuation terms were not disclosed.