InsurTech company yulife raises £10 million Series A Investment led by Creandum

London. yulife, the life insurance company which puts wellbeing at the heart of its insurance offering, has announced today that it has secured £10 million in Series A funding.

The round was led by Creandum Funds, backers of Spotify, iZettle and depop. MMC Ventures and Notion Capital participated in the round alongside existing investors Anthemis Exponential Ventures, RGAX and Israel’s most active venture investor OurCrowd.

This new round of funding follows a previous £3m seed-round led by LocalGlobe.

yulife is on a mission to breathe life back into life insurance by rewarding people for living well now, whilst protecting their loved ones in the future.

Group life cover (or death in service, as it’s often known) is one of the most commonly found employee benefits in large companies, with annual premiums of £2bn. However, it is also perceived as complex and poor value, which contributes to why 87% of SMEs don’t have any life insurance in place for their teams.

yulife addresses the needs of large companies and SMEs alike, offering an end to end digital journey to streamline the buying process, and engaging with each member directly via their wellbeing app.

The app encourages members to complete simple wellbeing activities, such as walking or meditation, by rewarding them with Avios air miles, vouchers and gift cards from partner brands including Amazon and ASOS. yulife believes that wellbeing and company life insurance are naturally connected, as healthier members mean lower risk, as well as a happier and more productive workforce.

yulife plans to use the funds to further develop their product and reach more businesses, providing company life insurance that brings wellbeing into the workplace.

yulife was founded in 2016 by serial entrepreneur Sammy Rubin, who said, “It’s been an incredible privilege to work with such a great team building yulife over the past three years and we’re confident that the further funding will allow us to fulfil our vision of making life insurance a force for good. We’re grateful to receive backing from investors with whom we are so deeply aligned, and believe this will help us promote our proposition to inspire lasting, healthy change in people’s lives.”

Creandum Advisor Partner, Carl Fritjofsson, said, “yulife stands out as the first of its kind, integrating gaming, psychology and wellbeing to break new ground in the life insurance industry, helping to better people’s lives, here and now. We are eager to support yulife’s growth and development, and work with the team to progress our shared mission.”

yulife media enquiries:

James Godfrey or Tom Ladds
Brazil (PR agency for yulife)
Tel: +44(0) 20 7785 7383
Email: yulife@agencybrazil.co.uk

About yulife:

yulife is a London based life insurance company built for modern business. Driven by a mission of helping every person to live their best life, the company rewards its members for living well now, as well as protecting their loved ones in the future. The yulife app encourages everyday healthy behaviour, creating teams that are happier, healthier and more productive. For more information on yulife please visit www.yulife.com

About Creandum

Creandum Advisor is a leading European venture capital advisory firm that believes any industry can be disrupted by the right entrepreneur. The Creandum Funds have over €660 million under management and are advised by the Creandum Advisory companies with offices in Stockholm, Berlin and San Francisco. Over the past 15 years the Creandum Funds have invested in more than 75 companies including Spotify, iZettle, depop, Klarna, and many others.

About Notion

Notion is a venture capital firm investing in the enterprise technology of the future and in founders and teams that have what it takes to solve the biggest problems facing the business world, transforming entire industries in the process. The Notion team founded, built and exited two highly successful SaaS businesses — Star and MessageLabs – and invests exclusively in enterprise tech and SaaS with the ambition to build global category leaders. The Notion portfolio includes Brightpearl, Currencycloud, GoCardless, Mews System, Paddle, Topia, Tradeshift, Unbabel, Tradeshift, Triptease and Workable.

About MMC Ventures

MMC Ventures is a research-led venture capital firm that has backed over 60 early-stage, high-growth technology companies since 2000. MMC’s dedicated research function provides the Firm with a deep and differentiated understanding of emerging technologies and sector dynamics, to identify attractive investment opportunities. MMC’s research team also supports early stage companies through the life of MMC’s investment. MMC’s dynamic consumer portfolio includes several of the UK’s favourite companies, including Bloom & Wild, Signal, Gousto, Appear Here, Masabi and Interactive Investor. Explore MMC’s cutting-edge research at mmcventures.com.

About Anthemis Exponential Ventures

Anthemis Exponential Ventures is a pioneering investment partnership powered by Anthemis Group and Exponential Ventures, the disruptive venture capital arm of MMI Holdings. Anthemis Exponential Ventures invests in and supports nascent businesses dedicated to financial wellness. With the aim of inspiring a culture of “profit with purpose” and creating a prosperous and inclusive global growth economy, Anthemis Exponential Ventures focuses its investments on fintech, insurtech and healthtech categories in Europe, the US and Asia.

About OurCrowd

OurCrowd is the leading global equity crowdfunding platform for accredited investors. Managed by a team of seasoned investment professionals and led by serial entrepreneur Jon Medved, OurCrowd vets and selects companies, invests its own capital, and invites its accredited membership of investors and institutional partners to invest alongside in these opportunities. OurCrowd provides support to its portfolio companies, assigns industry experts as mentors, and creates growth opportunities through its network of strategic multinational partnerships. The OurCrowd community consists of almost 30,000 registered investors from over 180 countries. Rated “the most active venture investor in Israel” by Pitchbook, OurCrowd has $1B in commitments and has made investments in 170 companies and funds. OurCrowd already has 33 exits to date. OurCrowd exits include: Jump Bikes sold to Uber, Briefcam sold to Canon, Argus sold to Continental, Crosswise sold to Oracle, and Replay sold to Intel. To join OurCrowd as an accredited investor, visit www.ourcrowd.com .

Insurdata raises £2.33 million in seed funding led by Anthemis and Menlo Ventures

London, 15 April 2019 – Insurdata, the award-winning insurtech firm which specialises in the augmentation of peril-specific exposure and risk data via its Exposure Engine Platform, has today announced that it has secured $3 million from a group of investors, led by Anthemis and Menlo Ventures.

  • Funding led by Anthemis and Menlo Ventures
  • Five new VC firms participate
  • Capital will support next stage in Insurdata development

The investors are composed of both Venture Capitalists and Angels and also include: Alma Mundi Fund, Talis Capital, InsurTech Gateway, Ascend, Prototype Capital and the Baloise Group. Insurdata secured an initial tranche of funding of $1 million in October 2017.

Insurdata was launched in 2017 to address the lack of property-specific data available to the re/insurance market. The firm’s platform enables re/insurers to generate high-resolution, accurate, risk-specific data globally in real-time at all points in the underwriting workflow. This includes accurate geocode information, building attributes and first-floor elevation data.

By providing access to precise data, Insurdata aims to give underwriters greater confidence in modelled loss estimates and accumulation analyses, resulting in better risk selection and improved portfolio management. This in turn supports better, more accurately priced products, more resilient balance sheets and ultimately helps reduce volatility.

Commenting on the funding, Jason Futers, CEO, Insurdata, said: “We are delighted to have secured the backing of a fantastic range of investors who fully understand the criticality of the service that Insurdata provides to the re/insurance market. Our work to date has exposed material deficiencies in the quality and scope of information which underwriters are reliant upon, which in turn have a detrimental effect on their ability to accurately price risk and manage portfolios effectively.”

“Moving forward, we aim to capitalise on the fact that our Exposure Engine can be applied to any peril by working with re/insurers to introduce more refined data sets for a broad range of exposures, including flood, windstorm, earthquake, terrorism and cyber. We are also evolving the Insurdata Customer Portal to make access to high-resolution data as straightforward and speedy as possible.”

Ruth Foxe-Blader, Managing Director, Anthemis, said: “We are delighted to continue our support of Insurdata. As the re/insurance industry undergoes a period of readjustment in the aftermath of two major loss years, the quality and granularity of data that supports their underwriting decisions will be vital to their ability to manage volatility. The data consistency that Insurdata provides I believe will become an industry standard.”

Javier Santiso, Founder & CEO, Mundi, said: “Insurdata provides an excellent opportunity to invest in a deep technology company that refines and enhances the lifeblood of the re/insurance industry – data. Few other markets are as reliant upon such incredibly complex and comprehensive data sets. Ensuring that such information is of the highest possible quality and resolution to enable underwriters to make risk decisions with confidence should be a top priority for every organisation.”

Richard Chattock, CEO, InsurTech Gateway, said: “InsurTech is making major inroads into virtually every phase of the insurance process. Insurdata targets a core component of an insurer’s process – exposure data. In our view, the firm brings together the right expertise, the right technology and the right capabilities at an opportune time to make a crucial difference to the insurance market.”

Tom Williams, Principal, Talis Capital, said: “We are very excited to be partnering with Jason and his impressive team as they continue to provide a pioneering approach to risk data capture for insurers worldwide. With over 90% of modelled loss estimates for flood exposures currently underestimated by traditional methods due to a lack of accurate first-floor elevation data[1], this solution has the potential to vastly improve insurer analysis accuracy and significantly reduce their costs. We look forward to working with Insurdata as they boost their sales power and refine the technology to meet the ever-growing demand in the market”

[1] Source: Insurdata

Leading UK real estate fintech disruptor REalyse secures £3m Series A venture capital investment lead by Anthemis Group

(UK, London): REalyse, a leading UK provider of real estate data and analytics for institutional property investors, lenders and developers, has closed its series A fund raise. The latest investment round was led by market leading venture capital firm, Anthemis Group, and XTX Ventures – the venture capital affiliate of XTX Markets, a leading global electronic liquidity provider.

Set up in 2016, REalyse’s vision is to transform the world’s most valuable asset class by making it faster, easier and more efficient for residential property professionals to determine where, when and what to build. The automated integration of hundreds of datasets covering the entire UK for over 20 years into the platform allows users to reach more accurate conclusions, up to 10x faster than they could before. The company has a significant portfolio of major corporate clients who use its institutional grade data systems; including Legal and General, Cushman and Wakefield, Quintain and Colliers International.

This is the third round of investment for REalyse in just two and a half years. The company’s prior round of investment came in 2017 from a combination of institutional and private investors, including Anthemis Group, Roundhill Capital and PiLabs. Commenting on the news, founder and CEO of REalyse, Gavriel Merkado, said: “We are applying cutting edge quantitative analytics technology to traditional real estate development and investment management, which is crying out for the same type of transformation seen previously in financial markets and other industries. We offer a powerful institutional product which brings clarity and transparency to investment in UK real estate and we want to thank our clients and investors for their continuing support in helping us continue on our mission.”

Iason Nikolakis, managing director at Anthemis Group, said: “Anthemis sees significant growth potential in REalyse. We are believers in the team’s strategy and are excited about the unique, data-driven product they are bringing to the real estate industry.”

-ENDS-

For more information, please contact Jodie Mulchrone (jodie@realyse.com)

About REalyse

REalyse’s vision is to transform the world’s most valuable asset class by making it faster, easier and more efficient for residential property professionals to determine where, when and what to build.

The average professional can spend up to 40 hours per project, or 13 days per month, reviewing data and making sense of the market. REalyse can cut this by roughly 90%.

REalyse’s data analytics platform provides accurate and up to date information on hundreds of data sets including rents, prices, demographics, property ownership information, planning applications and economics that are critical for mid-enterprise real estate development, investment and lending firms.

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