Artificial Labs raises $11.6 million
Algorithmic underwriting platform for carriers Artificial Labs has raised $11.6 million in a Series A funding round that included Force Over Mass, Mundi Ventures, No. 9 Investments Limited, and MS&AD Ventures as participants.
Founded in 2013, the London-based company (a team of ~30) uses cloud-based tools and machine learning techniques to give commercial insurers and brokers power over their data. “Our mission is to empower commercial insurers to write better risks, faster. We know that there’s plenty of excitement in the industry about what’s to come, so right now we’re supporting our clients on their journey whilst preparing for the next generation of algorithmic underwriting. This funding round will enable us to continue development of the Artificial platform and allow us to ensure it continues to lead the way in portfolio algorithmic underwriting.”