London-based InsurTech company Artificial has closed a round of seed funding for £4.2 million, ensuring that the tech startup continues its rapid growth and impressive product development. The funding is a co-investment between Alma Mundi InsurTech Fund, Force Over Mass and other investors.
The company, who have cemented themselves as one of London’s most exciting new InsurTech prospects, will use this investment to scale and grow in key areas, including:
– Expanding their engineering and sales teams
– Targeting new geographical areas such as the US, the Middle East and China
– Scaling their current platform
Artificial’s impressive growth has been driven by their growing recognition of the issues faced by those in the insurance industry. Through innovations in Machine Learning and AI, Artificial has developed smart, forward-thinking solutions for the next generation of customers who demand more from their insurance.
‘This is fantastic news for Artificial,’ according to co-founder and CPO, Johnny Bridges. ‘We are delighted to work with Alma Mundi InsurTech Fund and Force Over Mass, who have shown their belief in our ability to provide digital solutions to the insurance industry on a large scale. This round of funding shows our commitment to growing Artificial and will enable us to expand and scale our current platforms.’