Seed15 April 2019

Insurdata raises £2.3m in seed funding led by Anthemis and Menlo Ventures to develop its risk data platform.

Anthemis and Menlo Ventures led the financing round alongside five new venture capital firms and angel investors.

£2.3MSeed

Insurdata provides a platform that generates high-resolution, risk-specific exposure data for the insurance and reinsurance sector. Its technology allows underwriters to access detailed property data in real time.

London-based insurtech firm Insurdata has raised £2.3m in seed funding to support its next stage of development. The round was led by Anthemis and Menlo Ventures, with participation from several other venture capital and angel backers. The fresh capital will be deployed to drive further growth and technological refinement.

The company was established in 2017 to tackle data deficiencies in property and casualty underwriting. Its Exposure Engine Platform generates precise geocode and elevation details to improve risk selection and reduce portfolio volatility.

From the founder

"We are delighted to have secured the backing of a fantastic range of investors who fully understand the criticality of the service that Insurdata provides to the re/insurance market. Our work to date has exposed material deficiencies in the quality and scope of information which underwriters are reliant upon, which in turn have a detrimental effect on their ability to accurately price risk and manage portfolios effectively."

Jason Futers

CEO at Insurdata

Investor perspective

"We are delighted to continue our support of Insurdata. As the re/insurance industry undergoes a period of readjustment in the aftermath of two major loss years, the quality and granularity of data that supports their underwriting decisions will be vital to their ability to manage volatility. The data consistency that Insurdata provides I believe will become an industry standard."