Hyperexponential, a insurance that is london-based (insurtech) startup that serves the property-casualty (P&C) insurance industry with “decision intelligence” for pricing, has raised $73 million in a Series B equity round of funding.

Boston-based venture capital (VC) firm Battery Ventures led the round, with participation from existing investor Highland Europe and Andreessen Horowitz (A16z).

Founded in 2017, Hyperexponential helps insurers and reinsurers make better pricing that is informed utilizing predictive information and ideas gleaned from a wider selection of sources — including where this information could be niche, sparse, and hugely disconnected.

With Hypereponential’s HX Renew software, insurers can develop models that are predictive access APIs to integrate data sources and workflows between systems, with automation and machine learning helping asses risk and draw insights from data that is constantly changing.

Hyperexponential

Hyperexponential Image Credits: Hyperexponential

Prior to now, Hyperexponential had raised a $18 million round of funding in 2021, and in the intervening years the company says it has grown sales ten-fold while remaining profitable — and it claims big-name clients such as insurance giant Aviva.

And this latest investment does tend to support these claims. A $73 million funding that is equity-based stands apart like a sore flash in the present economic system, recommending that the mark startup will have a stylish stability sheet and solid development trajectory to justify such a cash injection.

Moreover, that Hyperexponential is getting high-profile U.S. VC corporations things to an roadmap that is international with the company confirming plans to expand beyond its current operations in the U.K. and Poland to the lucrative U.S. market.

“We’ve focused on building a capital-efficient, independent business that was both high-growth and sustainable from the outset,” said Hyperexponential co-founder and CEO Amrit Santhirasenan, in a statement. As we continue our growth into new verticals and geographies.”

Europe’s“Although we have more cash-on-hand than we’ve raised, we wanted to bring on new expertise in our target markets phoningCoatue exiting the U.K. VC realmWith both OMERS and* that is( in recent months, this had raised some questions about the appeal of Europe for earlier-stage investors. However, two far more established VC firms have actually done the opposite by turning to London for their first international hubs year that is last opened its U.K. office in November, together with various other ended up being Andreessen Horowitz which

.continued to investCrypto, blockchain and connected “web3” technologies had been among A16z’s core focus — a sector that the esteemed VC company was significantly more than only a little bullish about in modern times. Also to be reasonable, this has healthcare in crypto startups, including London-based Pimlico two months right back, nonetheless it has additionally been directing bigger assets in the likes of AI,

, and enterprise — as evidenced by present investments into Databricks and Motherduck.pegged as a $1.8 trillion industrySo it’s evidently keen to target bigger investments at tried-and-tested technology that is solving real industry problems today — the P&C insurance market was (*) last year, and coupled with Hyperexponential’s growth and profitability claims, it’s easy to see why this might appeal to any venture capital firm.(*)With while it would be false to say that crypto has fallen off A16z’s radar another $73 million in the bank from two of the biggest VC firms in the U.S., Hyperexponential is well resourced to begin its expansion that is global this, with intends to open up an innovative new York company and increase its headcount to significantly more than 200. The business additionally stated so it plans expand into adjacent areas, including SME insurance.(*)

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