What is Concirrus?
Founded in 2012 and headquartered in London, Concirrus is the developer of Quest, an AI-driven software platform specifically engineered for the marine insurance industry. By integrating vast, disparate datasets with sophisticated machine learning algorithms, the platform provides insurers with real-time risk management capabilities that were previously unattainable. This technological edge allows underwriters to move beyond traditional actuarial models, offering dynamic pricing and improved product structures that align with the evolving needs of global maritime commerce. Concirrus occupies a vital niche at the intersection of deep-tech and insurance, effectively digitizing a sector historically reliant on legacy systems.
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 Imperial Innovations, Eos Venture Partners, and Touchstone 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
IQ Capital
A venture capital firm based in Cambridge and London that specializes in deep-tech investments, focusing on disruptive algorithms, machine learning, and AI-driven propositions.
Eos Venture Partners
A specialized investment firm that focuses on scaling innovative companies at the intersection of technology and insurance, providing strategic capital to accelerate growth.
CommerzVentures
The venture capital arm of Commerzbank, focusing on early-stage FinTech and InsurTech companies across Europe, Israel, and the USA.
What's next for Concirrus?
With the support of its latest strategic financing, Concirrus is well-positioned to scale its operations and deepen its penetration into the global insurance market. The company's roadmap likely involves expanding the capabilities of the Quest platform to encompass broader risk categories and enhancing its predictive modeling features. As the industry faces increasing pressure to adopt digital transformation, Concirrus is poised to capitalize on the demand for data-centric decision-making tools. Future growth will likely focus on international expansion and the integration of new data streams to maintain its competitive advantage in the rapidly evolving InsurTech landscape.
See full Concirrus company page
