The seed financing was co-led by Insurtech Gateway and Mustard Seed Maze to support product expansion and the rollout of a new digital care ally.
"We believe there is no single systemic challenge more pressing or fascinating to solve for than our ageing population. We are thrilled to have secured funding that allows us to continue building the tools families need to meet their obligations of care for loved ones without sacrificing their health. With the formal announcement of Jose Ribeiro as Chairman of Yurtle, this is truly a mission to give others what we wish our family had access to in its time of need"
The investment round was led by Augmentum Fintech with backing from existing investors.
"Our latest funding round is a testament to the exciting work we're doing at Artificial. We are thrilled to have the expertise and support of the Augmentum team and our committed existing investors on this next phase of our journey."
Battery Ventures led the financing round, with participation from a16z and Highland Europe.
"We've focused on building a capital-efficient, independent business that was both high-growth and sustainable from the outset. Although we have more cash-on-hand than we've raised, we wanted to bring on new expertise in our target markets as we continue our growth into new verticals and geographies. We are delighted to have attracted a world-class set of investors who bring an unparalleled combination of experience, expertise, and support to hyperexponential in the next phase of our expansion."
Maven Capital Partners backed McKenzie Intelligence Services in a strategic funding round to support international expansion and product development.
"The geospatial analytics and catastrophe insurance markets are forecast to continue double digit growth per annum over the next 5 to 10 years, driven in large part by the severe global weather events that are happening more often. Consequently, insurers are having to take more steps to defend against a rising tide of natural catastrophe losses and are turning to technology solutions to anticipate the level of claims more accurately to significantly reduce claim handling costs."
