What is Concirrus?
Founded in 2012 and headquartered in London, Concirrus is the developer of Quest, an AI-powered software platform specifically engineered for the marine insurance industry. By leveraging machine learning and vast, proprietary datasets, the platform provides insurers with real-time risk management capabilities and actionable insights that were previously unattainable. This technological edge allows global insurers to refine their risk pricing models and deliver more competitive, customer-centric products. Concirrus operates at the intersection of deep-tech and insurance, effectively bridging the gap between complex maritime data and actionable enterprise-level decision-making.
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
Unspecified (2018): $6.3M featuring IQ Capital and Eos Venture Partners
Other Financing Round (2018): $3.5M, investors not publicly disclosed
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, including machine learning and AI, with a focus on companies capable of global market dominance.
Eos Venture Partners
An investment firm dedicated to scaling innovative companies at the intersection of technology and insurance, providing strategic capital to accelerate growth for experienced founders.
CommerzVentures
The independent 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 major strategic investment, Concirrus is well-positioned to scale its operations and deepen its penetration into the global marine insurance market. The company's trajectory suggests a focus on expanding its AI capabilities and enhancing the Quest platform's predictive accuracy. As the insurance industry continues its digital transformation, Concirrus is likely to prioritize strategic partnerships with major (re)insurers to solidify its market dominance. The firm's ability to attract high-caliber venture capital indicates a robust growth phase, with future efforts expected to center on international market expansion and the continuous refinement of its proprietary risk-assessment algorithms.
See full Concirrus company page
