Engagement — Platform Due Diligence
Code & Co. advises One Peak on Tech & Product Due Diligence ahead of its investment in Akur8, a machine learning-powered insurance pricing and reserving platform.
Akur8, the machine learning-powered insurance pricing and reserving platform, announced today that it has secured $120 million in series C funding, bringing its total raised investment to $180 million. This latest funding round was led by One Peak, a leading growth equity firm investing in software scale-ups, with participation from Partners Group, one of the largest firms in the global private markets industry acting on behalf of its clients, and historical investor Guidewire Software, Inc.
Scope Of Work
Code & Co. performed an audit of Akur8’s platform, including a review of its architecture, scalability capabilities, as well as its technology stack, deployment, and cybersecurity practices. Code & Co. reviewed the company’s extensive machine learning/artificial intelligence capabilities and roadmap. Furthermore, Code & Co. analyzed its operational setup and onboarding processes. A thorough review of its Engineering team was conducted, in addition to engineering processes such as its Software Development Life Cycle (SDLC).
About Akur8
Akur8 is transforming the non-life insurance industry with its innovative suite of pricing and reserving solutions. Its Next Gen Pricing and Reserving Platform combines cutting-edge technology with actuarial excellence to drive business value, bringing speed, performance, transparency, and reliability to insurers of all sizes. Akur8 serves 250+ customers across 40+ countries, including AXA, Generali, Munich Re, MAPFRE, HDI, Tokio Marine, and MS&AD. Over 3000 actuaries use Akur8 daily to build their pricing models and reserving projections across all lines of business.
About One Peak
One Peak is a leading specialist growth equity firm with $2 billion in assets under management that invests in technology companies in the scale-up phase. One Peak provides growth capital, operating expertise, and access to its extensive network to exceptional entrepreneurs, with a view to help transform innovative and rapidly growing businesses into lasting, category-defining leaders. In addition to Akur8, One Peak’s investments include Ardoq, Coro, Cymulate, Deepki, Docplanner, Keepit, Lucca, Neo4J, Pandadoc, Spryker, and many more. To learn more, visit www.onepeak.tech.