Quantemplate, a London, UK and NYC-based provider of self-service, cloud-based automated data solutions for the (re)insurance industry, closed on more than $12m in a recent funding round.
The round was led by Route Sixty-Six Ventures and Transamerica Ventures, with participation from Anthemis Group, Allianz X, and Insight Catastrophe Group.
The recent funding will be used to expand the company’s global sales and marketing efforts.
Led by David Lundgren, CEO, Quantemplate provides a self-service, cloud-based platform for (re)insurers to get access to data they need to empower decision making, enable growth, identify new market opportunities and reduce costs.
The platform utilizes machine learning for automated data ingestion, preparation and validation, creating real-time access to data.
The company also announced the general availability of its platform to the data-driven (re)insurance sectors following increased demand for licensing and implementation of the platform from global U.S. and European companies.
Approximately 20 large and mid-size customers are already licensing the platform.