What is Concirrus?
Concirrus is the developer of Quest, an artificial intelligence-powered software platform designed for the marine insurance industry. Leveraging machine learning analytics and extensive marine datasets, Quest empowers insurers in London and globally to proactively manage risks in real-time. This capability allows for insights previously unattainable, enabling marine insurers to refine their product offerings and risk pricing to better meet customer needs. Founded in 2012, Concirrus operates at the intersection of InsurTech and AI, providing critical tools for risk assessment and management.
How much funding has Concirrus raised?
Concirrus has raised a total of $48.1M across 7 funding rounds:
Private Equity
$4.7M
Series A
$3.9M
Other Financing Round
$3.8M
Other Financing Round
$3.5M
Unspecified
$6.3M
Series B
$20M
Private Equity
$6M
Private Equity (2015): $4.7M with participation from Imperial Innovations Group plc
Series A (2016): $3.9M led by Eos Venture Partners, Touchstone Innovations, and Imperial Innovations
Other Financing Round (2017): $3.8M supported by Touchstone Innovations
Other Financing Round (2018): $3.5M, investors not publicly disclosed
Unspecified (2018): $6.3M backed by IQ Capital and Eos Venture Partners
Series B (2020): $20M with participation from Albion Capital Group
Private Equity (2020): $6M led by CommerzVentures
Key Investors in Concirrus
Albion Capital Group
Albion Capital Group is a venture capital firm that invests in high-growth technology companies. Their focus on companies like Concirrus suggests a strategic interest in the InsurTech sector and AI-driven solutions for complex industries.
CommerzVentures
CommerzVentures, the venture capital arm of Commerzbank, specializes in early-stage FinTech and InsurTech companies, indicating a strong belief in Concirrus's innovative approach to insurance technology.
Eos Venture Partners
Eos Venture Partners is an investment firm focused on scaling innovative companies at the intersection of technology and insurance, aligning perfectly with Concirrus's mission and market position.
What's next for Concirrus?
The substantial enterprise-level and strategic capital injections signal Concirrus's maturity and its strategic importance within the InsurTech landscape. This funding will likely fuel further development of its AI capabilities, expansion into new geographic markets, and enhancement of its sales and customer support infrastructure. The company's focus on providing actionable insights for risk management positions it for continued leadership in a sector ripe for technological disruption. Future growth may involve deeper integration with existing insurance workflows and the development of predictive analytics for emerging marine risks.
See full Concirrus company page
