Highland Europe backs insurtech Hyperexponential in $18m funding round

Insurtech Hyperexponential has raised $18 million in a funding round led by growth capital provider Highland Europe.

The finance will enable Hyperexponential to accelerate its rapid growth, as it provides mathematical modelling software for the commercial insurance sector.

Its software helps companies build, deploy and update their pricing models, so they can make better data-driven decisions, faster and with minimal time and money spent on IT administration.

Amrit Santhirasenan, the CEO and co-founder of Hyperexponential, said: “The insurance industry is experiencing unprecedented growth, with data and technology being critical strategic drivers. Our software provides the tools that new entrants to the sector need in order to get to market with best-in-class analytics, and the functionality that incumbent insurers require in order to transform.”

Laurence Garrett, partner at Highland Europe, said: “We believe hx offers a unique combination of actuarial expertise and software engineering knowhow that delivers exactly the tools that commercial insurers need as their marketplace continues to evolve and transform. This is a sector that is changing very rapidly and hx has already demonstrated considerable growth; we want to help them bring their cloud-based tools and innovation to even more insurers and insurtech companies.”

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