AI-driven health insurtech Qantev attracts €10m funding to scale-up
Qantev, an artificial intelligence (AI) insurtech for health insurers, has raised €10 million in its Series A funding round to fuel its global market expansion and grow AI & engineering team to enhance its health claims platform for insurers.
Omnes and RAISE Ventures led the round, with reinvestment from Elaia PSL (Paris Sciences & Lettres) Innovation Fund - a fund intended to support promising tech-focused startups.
Co-founded by Tarik Dadi (CEO) and Hadrien De March (CTO) in 2019, Qantev has built an AI-based data analytics solution designed to improve health insurers’ operations, including health data management, automation triage and resolution of simple claims, as well as overall enablement of better and more informed decision making. In the last 12 months, the company has deployed its solution across a number of markets in Europe, Asia and North America.
Qantev provides a platform to clean, enrich and standardise data, allowing intelligence modules to provide high levels of insight and optimisation. Through its health claims and network management solutions, Qantev’s AI solution helps doctors, nurses, and operators working in insurance companies and third party administrators to make better and faster decisions as customer demands evolve in a post-pandemic world.
Dadi said: “Qantev’s momentum is growing and I am pleased to see our business going from strength to strength. This latest financing round will enable us to accelerate deployment to satisfy our customers' data transformation needs, delivering results in a matter of weeks, and to fuel our desire to develop the most advanced software and AI algorithms to turbocharge health insurance - we’re aiming to achieve this by building a team with the most talented engineers and researchers. We also have plans to expand our business in Asia and North America with the hiring of dedicated regional managers and local office openings, which will help us to closely support our clients and partners.”
Stéphane Pesqué, partner at RAISE Ventures, added: “Qantev is entering a new and exciting milestone, especially with its international expansion. The company’s proposition is perfectly aligned with the needs of health insurers’ who want to provide the best service to their policyholders, while optimising their costs and productivity. At a time where digitalisation of the health insurance sector is a key driver, we believe in Qantev’s ambition to enable these transformations through innovative and efficient solutions.”
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