Aureus Analytics, a Hartford, CT-based provider of AI and a predictive analytics platform for the insurance industry, raised $3.1m in funding.
Backers included Connecticut Innovations (CI), Multi-Act, Alpine Meridian and existing investors.
The company intends to use the funds for geographic expansion in the North American market and ramp up the technology and teams to accelerate product development.
Founded in 2013 by Anurag Shah, CEO, Aureus provides insurance industry solutions hosted on an artificial intelligence platform that combines both explicit and implicit data to measure the customer experience in real time to determine a SentiMeter score for customers.
The AI platform has processed more than 40 million insurance policy data points and learns from a variety of structured and unstructured data sets to measure the customer experience in real time to determine a SentiMeter score for all customers.
In addition to participating in the VentureClash competition, Aureus also was selected to be part of the inaugural Hartford InsurTech Hub and expanded its presence to Hartford at the conclusion of the program. The company now has operations in the United States, Mumbai, India, and Singapore.