Core technology infrastructure provider for the global re/insurance industry, inari, has raised $5.2 million in funding as part of its seed round led by Caixa Capital Risc, through Criteria Venture Tech, alongside CDTI.
Founded in 2017, Barcelona-based inari will use the funds raised from this round of financing to establish itself as a global leader in re/insurance technology services and expand its teams in both Barcelona and London.
Frank Perkins, Chief Executive Officer at inari, commented, “Today’s announcement validates inari’s vision, value and year-on-year track record as part of our mission to revolutionize the (re)insurance industry, establishing inari as a core technology provider that is trusted and valued by the insurance industry and is attracting talent and investors. The funding will support enhancements to our product offering, enable us to add to our team’s insurance industry and technology expertise and to expand globally.”
Inari’s platforms are secure, cloud-based, natively API-enabled, and fully managed services. It aims to provide a modern, easy-to-use tool that manages the end-to-end policy lifecycle while handling the ‘heavy lifting’ of day-to-day re/insurance process management.
The company explains that its platform provide frictionless interconnectivity and integration with other systems and data sources, which enriches the risk lifecycle experience.
It uses proprietary technology for data ingestion and capture and provides users with agile, digital-first underwriting and risk management to increase operational efficiency, enhance data accuracy, improve data distribution through the value chain and lower costs.
Perkins added, “I am incredibly proud of our team and would like to thank them for what we have achieved together. It is our people’s hard work, resilience, expertise, creativity and innovation that has driven and continues to drive our successes and we are equally thankful to the modern and forward-thinking client base that has supported inari since its beginning. I am highly optimistic about what the future holds as we strive to create solutions that are truly transformative and provide world-class outcomes for our client’s operational needs.”
Xavier Álvarez, Director of Tech Funds at Caixa Capital Risc, said, “inari’s innovative approach to insurance infrastructure has the power to redefine how we perceive risk and resilience in the insurance sector. Our investment signifies our belief in their vision and our commitment to fostering innovation in industries ripe for change. We’re excited to join this journey with Inari to help them grow and revolutionize this critical industry segment.”
