Akur8 Secures $120 Million in Series C Round to Accelerate Growth of its Next Generation Actuarial Platform

PARIS and LONDON and NEW YORK, Sept. 16, 2024 (GLOBE NEWSWIRE) — 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. (NYSE:GWRE). The new funding will significantly bolster Akur8’s ability to expand its product portfolio and fuel its growth in key global markets.

Akur8 secures $120 million in Series C funding

Brune de Linares, Chief Client Officer together with Samuel Falmagne, CEO of Akur8

Developed explicitly for insurers, Akur8 has been revolutionizing non-life insurance pricing with transparent AI since 2019. Its cloud-based, fully integrated platform empowers insurers to price at unprecedented speed, directly influencing financial outcomes and enhancing risk assessments. With the recent acquisition of the Arius reserving platform (read PR), Akur8 further expands its product portfolio and customer base, amplifying the value delivered to insurance carriers worldwide.

Akur8 secures $120 million in Series C funding

Akur8 closed its Series C funding round, bringing its total raised investment to $180 million

The new funding will be used to:
  • Fuel product innovation: Akur8 will invest in R&D to enrich its insurance pricing platform with two new modules:
    (1) Optim, which enables insurers to determine the optimal insurance pricing strategy to meet their business objective, and
    (2) Deploy, Akur8’s new rating engine, enabling pricing teams to seamlessly bring their rates into production.
  • Drive growth by leveraging Akur8’s recent acquisition of Arius: As Akur8 enters the insurance reserving sector, it will strategically target new market segments and bridge the gap between reserving and pricing. With its deep expertise in SaaS and AI, Akur8 will fast-track the product development of the Akur8 Reserving platform.
  • Accelerate global expansion: In addition to R&D, this funding will be instrumental in driving Akur8’s strategic expansion into key growth markets, particularly in North America. By strengthening its foothold in this region, Akur8 will penetrate new customer segments and tailor its offerings to address the unique demands of these markets.
Akur8 secures $120 million in Series C funding

Akur8 announces Series C funding backed by One Peak and Partners Group

“We look forward to collaborating closely with our new investors One Peak and Partners Group, two leading investment firms that share our vision for innovation and excellence. With their support, we are committed to accelerating our product development efforts and staying ahead of industry trends to offer an unparalleled, integrated actuarial platform for insurers globally,” stated Samuel Falmagne, CEO and Co-Founder of Akur8.

Brune de Linares, Chief Client Officer and Co-Founder of Akur8, added: “This latest round of funding will empower us to better meet our customers’ evolving needs, enhance their operational efficiency, and equip them with innovative tools to thrive in an increasingly competitive insurance landscape. We are excited about the growth opportunities and advancements this investment will unlock for our continued success.”

Humbert de Liedekerke Beaufort, Co-Founder and Managing Partner of One Peak, said: “Akur8 offers a truly unique cloud-based end-to-end actuarial platform, which leverages proprietary machine learning algorithms to inject speed and accuracy to insurers’ pricing process, whilst ensuring full transparency, auditability and control over the models created. We have been particularly impressed by Akur8’s user-friendly interface, ease of deployment, and reputation among the world’s leading insurers for its outstanding customer service. We look forward to working closely with Akur8’s seasoned executive team as they chart the next chapter of the company’s global expansion, market leadership, and innovation journey.”

Pierre Curis, Private Equity Technology, Partners Group, comments: “Akur8 has developed a differentiated, next-generation pricing platform that benefits from the increasing push for sophistication among insurers and from the growing adoption of new technologies. We are excited to support an ambitious management team committed to innovation and customer satisfaction as they embark on this next exciting phase of growth.”

Walter Billet Avocats acted as legal advisor for Akur8 in this transaction and has been advising the company since its creation. Perella Weinberg Partners served as financial advisor for Akur8 in this transaction.

About Akur8
Akur8 is transforming the non-life insurance industry with its innovative suite of pricing and reserving solutions.
Our 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 $2.0 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.

About Partners Group
Partners Group is one of the largest firms in the global private markets industry, with around 1,800 professionals and approximately USD 150 billion in assets under management. The firm has investment programs and custom mandates spanning private equity, private credit, infrastructure, real estate, and royalties. With its heritage in Switzerland and its primary presence in the Americas in Colorado, Partners Group is built differently from the rest of the industry. The firm leverages its differentiated culture and its operationally oriented approach to identify attractive investment themes and to build businesses and assets into market leaders. For more information, please visit www.partnersgroup.com or follow us on LinkedIn.

Media Contacts:
Akur8
Vera Buttinger
Marketing Director
vera.buttinger@akur8.com
+33 7 66 31 47 58

One Peak
Lauren Sharman
Head of Platform
lauren@onepeak.tech
+44 7393 569004

Partners Group
Henry Weston
Communications Manager
henry.weston@partnersgroup.com
+44 77 4876 0944

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Young People from Around the World Invited to Create Innovative Solutions to Sustainable Development Goal-focused Challenges

Innovators ages 5 to 24 have until December 8 to enter NFTE’s World Series of Innovation and win prizes valued up to $1,500

NEW YORK, NY, Sept. 16, 2024 (GLOBE NEWSWIRE) — Interested in solving some of the biggest challenges humanity faces? Starting today, young people ages 5 to 24 can compete for prizes in the annual World Series of Innovation (WSI), presented by the Network for Teaching Entrepreneurship (NFTE) and Aramco.

Prizes range in value from $300 to $1,500 with challenges focused on advancing the UN Sustainable Development Goals (SDGs). Eligible teams and individuals worldwide can sign up at innovation.nfte.com.

Each year, WSI harnesses the potential of young innovators, empowering them to unleash their creativity and drive positive change. This year, with Aramco’s support, the competition offers two distinct tracks: the WSI Imagination League (for ages 5 to 12) and the WSI Impact League (for ages 13 to 24). NFTE and Aramco have helped to expand the competition’s reach in multiple languages, including English, Spanish, Arabic, Simplified Chinese, and Hindi. NFTE is more committed than ever to nurturing an entrepreneurial mindset, the driving force behind transformative change. Thousands of young minds around the globe will present innovative ideas and master essential entrepreneurial and design-thinking skills, equipping them to tackle the world’s most pressing challenges with creativity and confidence.

“We are thrilled to launch this year’s NFTE World Series of Innovation, an event that consistently showcases the incredible creativity and problem-solving abilities of young people around the globe,” said Dr. J.D. LaRock, NFTE president & CEO. “Past competitions have brought forward groundbreaking ideas, such as a platform that leverages AI to connect patients with medical professionals, an innovative process that transforms discarded rice husks into clean-burning fuel, and new technology designed to improve traffic efficiency and road safety. By introducing the WSI competition to an even larger audience through expanded ages and languages, we are empowering more young visionaries to address global challenges. We look forward to seeing the remarkable innovations that this diverse group of participants will bring to the table.”

“Aramco aims to support STEM education, innovation, and entrepreneurship by equipping young people with 21st century skills through outstanding programs such as WSI,” said Hadeel Al-Eisa, Aramco Corporate Citizenship Manager. “We are excited to learn more about the great ideas to be developed during this year’s challenge. We hope these inspiring, innovative solutions will help to make meaningful impacts in global communities.”

Each fall, NFTE announces new WSI challenges leading up to Global Entrepreneurship Week. The competition concludes on December 8, with winners for the Imagination League announced on February 18, 2025, and winners for the Impact League announced on April 14, 2025.

This year’s online challenges will advance the following UN SDGs:

WSI Imagination League Challenges (ages 5-12):

  • SDG 6: Clean Water Challenge, Aramco
  • SDG 8: Youth Economic Advancement Challenge
  • SDG 3: Good Health and Well-being Challenge

WSI Impact League Challenges (ages 13-24): 

  • SDG 6: Clean Water Challenge, Aramco
  • SDG 9: Solar Innovation Challenge, CBT Technology Institute
  • SDG 8: Youth Economic Advancement Challenge
  • SDG 4: Quality Education Challenge, Comerica Bank
  • SDG 16: Responsible AI Challenge, EY
  • SDG 4: Game Based Financial Learning Challenge
  • SDG 3: Good Health and Well-being Challenge
  • SDG 13: Climate Action Challenge, Zuora

Learn more about the latest set of NFTE WSI innovation challenges, the sponsoring organizations, and the prizes being offered at innovation.nfte.com.

See some of the winning entries from previous challenges at innovation.nfte.com/results.

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For media inquiries, please contact Angelika Seaman, 603-504-8554, or Denise Berkhalter, APR, 917-281-4362, at mediainquiries@nfte.com.

About NFTE

Network for Teaching Entrepreneurship (NFTE) ignites the entrepreneurial mindset with unique learning experiences that empower students to own their futures. A global nonprofit founded in 1987, NFTE provides high-quality entrepreneurship education to middle school, high school and postsecondary students. NFTE brings the power of entrepreneurship to students, regardless of family income, community resources, special needs, gender identity, race, or ethnicity. NFTE has educated more than a million students, delivering our programs in school, out of school, in-person, online, or through hybrid models. Visit nfte.com to learn more.

Attachments

Denise Berkhalter, APR
Network for Teaching Entrepreneurship (NFTE)
917-281-4362
deniseb@nfte.com

           GlobeNewswire Distribution ID 9230228

‫فينفاست تلبي متطلبات سوق المركبات الكهربائية المتطورة بفضل فلسفتها التي تركز على العملاء

تستجيب شركة فينفاست لمتطلبات سوق المركبات الكهربائية المتطورة باتباع فلسفة تركز على العملاء وتصب اهتمامها على القدرة على تحمل التكاليف والجودة والدعم الشامل لما بعد البيع، وينعكس هذا الأمر في تنوع طرزها وتوسعها في الأسواق الناشئة، ما يهيئ الشركة للنجاح باستمرار.

 

هانوي، فيتنام – 16 سبتمبر 2024 ما زال سوق المركبات الكهربائية مستمرًا في التوسع،  لكنها لم تحقق مسار التطور الطموح الذي تصوره صانعو السيارات. لذلك يعمل عديد من الشركات الراسخة المصنعة للسيارات على تقليص جداولها الزمنية الصارمة للتحول إلى إنتاج المركبات الكهربائية.

مجمع فينفاست لتصنيع المركبات الكهربائية في هاي فونج، فيتنام

 

تعتمد بعض شركات صناعة السيارات على إنتاج طرز هجينة، لكن هناك شركات أخرى تضاعف جهودها لتحقيق طموحها مستقبلًا بأن تجعل جميع المركبات التي تنتجها كهربائية. لتحقيق هذه الغاية، تدرك هذه الشركات ضرورة التحول من الاقتصار على تلبية احتياجات المستخدمين الأوائل إلى زيادة توافر المركبات الكهربائية في الأسواق الجماهيرية.

تواجه شركة فينفاست، وهي شركة فيتنامية متخصصة في تصنيع المركبات الكهربائية، هذا التحدي بشكل مباشر من خلال نهج يركز على العملاء، ويهدف التزامها بـ “المنتج عالي الجودة والسعر الشامل وسياسة ما بعد البيع المتميزة” إلى التصدي للمخاوف التي تقلق جميع المشترين المحتملين للمركبات الكهربائية.

لأن السعر هو العقبة الأساسية التي تحول دون انتشار استخدام المركبات الكهربائية، قدمت شركة فينفاست، أو تخطط لتقديم، طرز مركبات كهربائية بأسعار أكثر يسرًا في جميع أسواقها التشغيلية فعليًا. يستمتع المستهلكون في فيتنام باستخدام مجموعة متنوعة من مركبات فينفاست، بما فيها VF 3 وهو أقل طُرزها تكلفة بأسعار تبدأ من 10,000 دولار للطراز المدعم  بنظام اشتراك البطارية المبتكر. إن الطلبات المسبقة الهائلة غير القابلة للاسترداد، والتي بلغت 27,400 طلبٍ في شهر مايو، تؤكد مدى نجاح هذا الطراز في سوق حيث لا يزال امتلاك سيارة حلمًا بعيد المنال بالنسبة للكثيرين. من المتوقع أن يعتمد طراز VF 3 على تنوع مزاياه، التي تشمل السعر المعقول والأناقة والعملية، لتطوير مفهوم التنقل في جنوب شرق آسيا على نطاق أوسع، تمامًا كما حدث مع الدراجات النارية ذات يوم.

في الولايات المتحدة والاتحاد الأوروبي، تشير تقارير إلى أن فينفاست قد تنتج سيارات رياضية بأسعار أكثر معقولية مثل VF 6، والتي تأتي في مرتبة أدنى من VF 8 الحالية من حيث السعر، ولم يتم الإعلان رسميًا عن عرض هذه السيارات في الأسواق، لكن ينتظره بفارغ الصبر من يسعون لشراء مركبات فينفاست بتكاليف أقل.

تركيز مركبات فينفاست على إرضاء جميع احتياجات العملاء يجعلها تلبي متطلبات السوق المتنوعة. علاوة على ذلك، أثنى كل من العملاء العاديين والمراجعين المحترفين على جميع مركبات فينفاست لسهولة استخدامها وسلاسة قيادتها، بالإضافة إلى عديد من الميزات الذكية والعملية. على سبيل المثال، طراز VF 8، وهو من طرز فينفاست الرائدة، يتميز بمقصورة داخلية واسعة وأنظمة مساعدة للسائق متقدمة ومدى حركة يجاري عديدًا من المنافسين الراسخين.

إن تفاني الشركة في تقديم خدمة عملاء مميزة ودعم ما بعد البيع، والذي يتميز بالضمانات الممتدة وعروض الخدمة الشاملة، يعزز التزامها بتقديم الجودة والراحة  للمشترين. إن الضمان الذي تصل مدته إلى 10 سنوات المقدم على مركبات فينفاست يدل على ثقتها في جودة وطول عمر منتجاتها، ولذلك شكلت مثالًا فريدًا لمستوى جديد من البراعة في مجال إنتاج المركبات الكهربائية.

قد ينبع التركيز الاستراتيجي لشركة فينفاست أيضًا من إدراك أنه في حين أن سوق المركبات الكهربائية في المناطق المتقدمة مثل الولايات المتحدة وأوروبا قد تشهد تباطؤًا، فإن الأسواق الأخرى، مثل جنوب شرق آسيا والشرق الأوسط، تقدم آفاقًا واعدة.

تعمل الشركة الناشئة بنشاط على توسيع نطاق أعمالها في هذه المناطق، والاستفادة من تزايد الاهتمام بالتحول إلى استخدام المركبات الكهربائية.  قطعت فينفاست خطوات كبيرة في هذا الصدد، حيث إنها أبرمت اتفاقيات مع موزعين وافتتحت أول معرض لها وأنشأت مقرًا إقليميًا في الشرق الأوسط، وهذه الخطوات الاستراتيجية لا تفتح مجالًا لجذب عملاء جدد فحسب، بل إنها تمهد أيضًا للتوسع مستقبلًا في أسواق واعدة أخرى في المنطقة.

إن النهج الاستباقي الذي تتبناه شركة فينفاست في تلبية احتياجات العملاء، إلى جانب توسعها في الأسواق الناشئة، يجعلها تحتل مكانة مميزة في مجال إنتاج المركبات الكهربائية المتطور باستمرار.

FM arrives in the Sultanate of Oman

Deputy Prime Minister, Minister of Foreign Affairs Fuad Hussein arrived in the Sultanate of Oman on an official visit. Hussein said in a tweet on the (X) platform, "We arrived in the Sultanate of Oman on an official visit, during which we will discuss strengthening bilateral relations between our two countries in various political, economic and cultural fields." He added: "We will also work to explore new horizons for cooperation in a way that achieves the interests of our two peoples and supports the stability and development of the region." Source: National Iraqi News Agency

Foreign Ministry announces release of Iraqi citizen kidnapped in Homs, Syria

The Ministry of Foreign Affairs announced today the release of an Iraqi citizen who was kidnapped in Homs, Syria. The statement said that the Iraqi citizen Abu al-Hassan Hamid Musaed, who was kidnapped three weeks ago in al-Bayada area in Homs countryside, after coming from Basra Governorate to marry a Syrian girl, was released. The statement added that "thanks to the tireless efforts made by the Iraqi embassies in Damascus and Beirut, in cooperation with the Iraqi National Intelligence Service, and direct communication with the security leadership in the Syrian government and the Lebanese security agencies, represented by the Intelligence Command, the citizen was released." The ministry explained that "the gang that carried out the kidnapping had demanded a ransom of $500,000, but the Iraqi embassy and the Iraqi National Intelligence Service were able to release him without entering into any negotiations with the kidnappers, indicating that the perpetrators will be dealt with in accordance with the law by the competent authorities." The ministry affirmed its "firm commitment to protecting its citizens abroad, expressing" its appreciation for the fruitful cooperation between the Iraqi security services and their counterparts in Syria and Lebanon, which contributed to achieving this success. Source: National Iraqi News Agency

Al-Hakim: The constitution and the judiciary are the main reference in democratic systems and must be preserved

The head of the National State Forces Alliance, Ammar al-Hakim, stressed the importance of preserving and respecting the constitution and the judiciary. Al-Hakim said in a statement on the occasion of the International Day of Democracy, that "the nature of the democratic system and the political stability that followed in Iraq were the result of the sacrifices of the Iraqi people in confronting dictatorship and terrorism and building their new experience, which necessitates all national forces to contribute to strengthening and consolidating this experience, and encouraging the legislative and executive authorities to benefit from the experiences of countries in political, institutional, financial and economic reform of the country, and adapting the experiences to the Iraqi reality." He added, "It is necessary to preserve and respect the constitution and the judiciary as they are the main reference in democratic systems." Source: National Iraqi News Agency

Iraq and Algeria discuss combating drugs and cross-border crimes

Minister of Interior Abdul Amir Al-Shammari discussed with the Algerian Ambassador to Iraq, Jihad Al-Din Belkas, the file of combating drugs and cross-border crimes. The ministry stated in a statement: "The minister met in his office today with the ambassador who congratulated the minister on the occasion of the birth of the Prophet Muhammad, praising the great efforts made by the Iraqi security services during the visits." The two sides discussed the file of combating drugs and ways to eliminate this scourge, as well as the importance of exchanging information and enhancing coordination in intelligence efforts and cross-border crimes. The two sides discussed cooperation in the field of training and capacity building, as the minister invited Algerian students to study at the Iraqi Police College, and invited his Algerian counterpart to visit the country. They also discussed issues related to granting visas, residence and other topics of common interest. Source: National Iraqi News Agency

Al-Hakim stresses the importance of agriculture as one of the sectors that reduces dependence on oil

The head of the National State Forces Alliance, Ammar al-Hakim, stressed the importance of agriculture as one of the sectors and reduces dependence on oil. The alliance stated in a statement: "Al-Hakim met in his office today with a delegation of farmers and peasants from Al-Zubair district and areas west of south Basra and a number of representatives of the 315 oil sector engineers and daily workers for the year 2022 and graduates of oil institutes, in the presence of the MP, Ali Shaddad Al-Faris." Al-Hakim listened to their demands and discussed with them the agricultural reality and ways to accumulate positives in the previous stage as Iraq reached self-sufficiency in several crops. Al-Hakim stressed the importance of agriculture as one of the sectors that can make us independent of oil and reduce dependence on oil and the rentier state, stressing the support of farmers with fertilizers, equipment, fuel and various agricultural components. He stressed the importance of optimal investment of water throu gh mechanization and modern technology, indicating the importance of fresh water in the coming stage, calling for attention to livestock and explaining that agriculture is an ideal solution to environmental and climate problems. He called for fairness to the segment of engineers in the oil sector. Al-Hakim stressed the need to oblige foreign operating companies to employ Iraqi engineers and workers who did not have the opportunity to be appointed by the government, stressing the importance of training and development to create a generation capable of our oil industry in all its sectors. Source: National Iraqi News Agency

Foreign Minister meets Omani journalists and stresses the depth of relations and economic cooperation between the two countries

Iraqi Deputy Prime Minister and Minister of Foreign Affairs, Fouad Hussein, met with a number of Omani journalists in the Sultanate of Oman. At the beginning of the meeting, the Minister stressed the depth of the historical relations between Iraq and the Sultanate of Oman, pointing to the importance of coordination to hold the joint committee between the two countries in Baghdad soon, and the necessity of economic and strategic openness to Oman. During the dialogue with the journalists, a number of regional and international issues were discussed, most notably Iraq's role in the war on the Gaza Strip, and the urgent need to save the Palestinian people. The Minister also referred to the current efforts of the Iraqi government in the field of reconstruction, providing services, and achieving economic development. In another context, Fouad Hussein touched on the development road project, stressing its importance as a positive and fruitful partnership, as it will be a safe passage that contributes to accelerat ing the transport of goods at the regional level. Source: National Iraqi News Agency

Al-Sudani praises the achievement of the Paralympic champions and directs them to be honored according to the law with a monthly grant and a plot of land

Prime Minister Mohammed Shia Al-Sudani received the champion athletes who won various medals and advanced positions in the 2024 Paralympic Games in Paris. Al-Sudani congratulated the achievement of the champions who embroidered their chests with colored medals in the Paris Paralympics, and raised the Iraqi flag in front of the world, appreciating the efforts of the Paralympic Committee, the training staff, and their honorable families. He also stressed the government's commitment to supporting sports and athletes and overcoming all obstacles, and announced honoring the Paris Paralympics champions with a monthly grant and a plot of land, according to Law No. 6 of 2013. Al-Sudani referred to "receiving the golden champion Najla Imad a few days ago, who carries a story that is not limited to a gold medal, but rather represents a title for sacrifice, courage and determination of Iraqi women, as she excelled and became a world champion despite losing her limbs in a terrorist operation, so she became the talk of the whole world, while the terrorist went to the dustbin of history, stressing that her story and the stories of the rest of the champions deserve to be included in the school curricula, as they all involve heroic positions and sacrifices." The Prime Minister also referred to "what sports represent in terms of political, economic and social action and influence, and its ability in more than one event to unite Iraqis with all their components, stressing the government's keenness to support the sports sector and make it one of its priorities, and the beginning was by supporting the organization of the 25th Basra Gulf Championship, followed by supporting a large number of programs and initiatives, foremost of which is the Champion Making Initiative, which includes games Olympic and Paralympic, stressing the provision of all care and support for effective and distinguished sports. Source: National Iraqi News Agency