Cloud-based automated data provider Quantemplate has raised $12 million in its latest funding round, as the company looks to continue providing re/insurers with solutions that help identify new market opportunities and reduce costs.
Quantemplate’s platform leverages machine learning and creates real-time access to democratised data in a way that it says enhances scalability, productivity, and connectivity.
Built specifically for re/insurance segments that require high-quality extrapolation of robust datasets, Quantemplate says it has seen traction globally in the commercial property, program, MGA and specialty casualty markets.
With approximately 20 large and mid-size companies currently licensing the platform, Quantemplate says this latest funding will be used to expand the global sales and marketing efforts as it grows the platform’s capabilities and customer base.
“With this recently secured round of funding, Quantemplate is primed and ready to present our proven technology to the (re)insurance industry,” said David Lundgren, Chief Executive Officer of Quantemplate.
“We are eager to provide the unique tools and insights customers need to make business processes more efficient, while at the same time appreciating a more comprehensive assessment of risk.”
“Through the Quantemplate platform, we are taking what was once a complex process, simplifying and democratizing the data so that customers can adapt to the increasingly data-driven market.”
The round was led by Route Sixty-Six Ventures and Transamerica Ventures, with participation from Anthemis Group, Allianz X, and Insight Catastrophe Group.