Akur8, the next-generation insurance pricing solution powered by Transparent AI, has closed a new funding round of $25m, bringing its total funding to $60+m. This latest investment round closed four years after Akur8 first commercialized its platform and introduces a new investor, FinTLV, a global Insurtech and fintech venture capital fund based in Tel Aviv. Besides FinTLV, Guidewire Software, Inc. is also investing in this round, together with historical investor BlackFin Capital Partners.

As Akur8 and FinTLV embark on this journey together, they will kick off their collaboration with a momentous joint in-person event in Tel Aviv on September 4. This event will gather 120 actuaries from Israel’s insurance industry and will be part of the Insurtech Israel 2023 Global Summit, a networking event for global insurance industry experts, serving as an ideal platform to foster this new partnership.

“This latest milestone will enable us to accelerate the transformation of insurance pricing even further, fuel our growth in key markets such as the US and APAC, and equip P&C and health carriers with a state-of-the-art, integrated pricing solution that we have been building and refining tirelessly,” stated Brune de Linares, Chief Client Officer at Akur8.

“To further enable and enhance our capabilities, we recently conducted a new fundraising to bring additional strategic partners to the table. FinTLV Ventures, a leading global venture capital firm with an extensive network investing in top insurtech and fintech companies, chose to invest in Akur8 – a powerful endorsement of our immediate and future potential,” noted Samuel Falmagne, CEO of Akur8.

Gil Arazi, Managing Partner at FinTLV agreed. “We take pride in investing in only the top insurtech companies in the industry, and Akur8 has proven again and again that their powerful insurance pricing software stands above the rest.”