Congratulations to our London Bridge members Concirrus who have just closed a $20m Series B round.
The round was led by AlbionVC, with previous investors IQ Capital, EOS Venture Partners and several angel investors also taking part.
Concirrus are taking a fresh approach to solve challenges faced by marine and automotive insurance markets, through it’s behavioural-based underwriting platform called Quest. The platform interprets wide-ranging datasets, combining them with historical claims information to reveal the behaviours that correlate to claims.
CEO, Andrew Yeoman (pictured), told UKTN that they’ll be using the funding to “internationalise, broaden the strength of our product offering and diversify across multiple business lines.”
We wish them the best of luck! Read more about the funding round here.
More from the Runway East Community:
Building Beam: the world’s first crowdfunding platform for homelessness
We sat down for a chat with Beam founder and CEO Alex Stephany, to hear about using business to fix the future, the homelessness misconceptions he'd like to debunk, and the encounter that led to the creation of Beam. Tell us about Beam. What do you guys...
Ben Allen, Co-Founder of Laka, is Making Us Re-Think the Traditional Insurance Model
We’re thrilled to be launching our second Bristol coworking site, Runway East Temple Meads, this December! Bristol's entrepreneurial scene is thriving, so we're chatting with Bristol's leading startup founders to uncover the unorthodox stories behind the...
RWE meets Stan…the car parking robot
Each month, we profile the innovative startups that reside within Runway East to hear about their disruptive products, ideas and back stories. This month we're featuring Stanley Robotics, the team behind the world's first robotic parking service, Stan. We...