French insurtech Akur8 has sequred $120 mn in Series C funding, bringing its total investment to $180 mn and its valuation to $400mn, led by One Peak with Partners Group and Guidewire Software, reflects rising demand for advanced actuarial tech in the insurance industry.
The new funding will support global expansion, especially in North America. Akur8 already has a strong presence in the UK, Germany, and the US and aims to strengthen its reach.
Founded in 2018, Akur8 has created a machine learning algorithm that automates insurers’ risk modelling, cutting down the time needed for pricing and reserving.
Its platform uses transparent AI to speed up and improve pricing accuracy while keeping models fully auditable and controlled. This has attracted insurers aiming to refine pricing in a competitive market.
Akur8’s core product merges machine learning with actuarial expertise to automate pricing. Its transparency sets it apart, a key requirement for regulatory compliance.
The company plans to use the new funds to add two modules. The first, Optim, helps insurers determine pricing strategies aligned with business goals. The second, Deploy, simplifies rate implementation into production.
With our new investors, we’re focused on advancing our product development and staying ahead of trends to provide an unmatched actuarial platform worldwide.
CEO and Co-Founder Samuel Falmagne
Akur8 also acquired Milliman’s Arius reserving platform, expanding its offering into the reserving space and giving it a broader suite of tools for pricing and reserving.
Brune de Linares, Chief Client Officer and Co-Founder, said, “This funding will help us better meet customer needs, improve their efficiency, and equip them with the tools needed to compete.”
Since its start, Akur8 has grown quickly, with 250+ customers in over 40 countries, including major insurers and insurtechs.
Akur8’s growth aligns with the insurance sector’s adoption of AI and machine learning to boost efficiency and improve risk assessment. Its success mirrors the industry’s broader move toward digitalisation, with actuarial modelling playing a key role.
by Peter Sonner