What is Concirrus?
Concirrus is the developer of Quest, an AI-powered software platform designed for the marine insurance industry. Leveraging machine learning and extensive marine datasets, Quest provides insurers with real-time risk management capabilities and insights that were previously unattainable. This allows marine insurers to enhance their product offerings and refine risk pricing to better meet customer needs. Founded in 2012, Concirrus operates at the intersection of technology and insurance, aiming to bring data-driven intelligence to a traditionally complex market.
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
Unspecified (2018): $6.3M featuring Eos Venture Partners and IQ Capital
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
Albion Capital Group
Albion Capital Group is a prominent investment firm that provides strategic capital to growing companies. Their involvement suggests a belief in Concirrus's potential for significant market impact and scalability within the insurtech sector.
Eos Venture Partners
Eos Venture Partners is an investment firm specializing in identifying and scaling innovative companies at the intersection of technology and insurance. Their participation highlights Concirrus's alignment with the insurtech focus and early-stage growth potential.
IQ Capital
IQ Capital is a venture capital firm focused on 'deep-tech' investments, including AI and machine learning. Their backing indicates recognition of Concirrus's advanced technological capabilities and potential for global market dominance.
What's next for Concirrus?
The substantial enterprise-level backing and recent strategic investment position Concirrus for accelerated growth and market leadership. With its Series B funding and subsequent capital injections, the company is poised to further enhance its AI capabilities, expand its global reach, and deepen its integration within the insurance ecosystem. This strategic financing will likely support product innovation, talent acquisition, and the scaling of its sales and marketing efforts to capture a larger share of the global marine insurance market. The company's focus on actionable insights through machine learning suggests a trajectory towards becoming an indispensable tool for insurers seeking to optimize operations and underwriting.
See full Concirrus company page
