Artificial Labs secures £8m Series A+ funding from Augmentum Fintech to accelerate product development
The investment round was led by Augmentum Fintech with backing from existing investors.
Artificial Labs provides digital broking and underwriting technology for the specialty and commercial insurance markets. The independent company helps brokers and carriers digitise complex workflows to optimise capacity deployment.
Artificial Labs has secured £8m in a Series A+ funding round led by Augmentum Fintech, with participation from existing backers MS&AD Ventures and FOMCAP IV. The capital will be directed towards product development, international expansion, and accelerating the deployment of new artificial intelligence tools for brokers and underwriters.
The raise follows a period of notable commercial progress for the firm, including the rollout of its Smart Follow collaboration with Apollo and the introduction of its Contract Builder tool through partnerships with Lockton and Placing Platform Limited. The company also strengthened its leadership team with several senior appointments over the past two years.
From the founder
"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."
David King
Co-Founder at Artificial Labs
Investor perspective
"We are delighted to lead Artificial's latest investment round. We firmly believe that the era of algorithmic underwriting will redefine market dynamics in the insurance space."
Reginald de Wasseige
Principal, Augmentum Fintech
Use of funds
- 01Continue product development
Investors
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About the company
Artificial Labs
Artificial Labs provides digital broking and underwriting technology for the specialty and commercial insurance markets.