Supercede completes $15m funding round to further develop platform

Reinsurance technology firm Supercede has completed a  £11.8m ( $15m) series A funding round to further the development of its platform.

In a statement, the company said that the new funding would “advance its mission to transform the reinsurance sector via technology”.

The funding round was led by venture capital (VC) firm Alven Capital with contributions from Mundi Ventures and its existing investors Outward, Seedcamp, MMC Ventures and AFG Partners.

With this new capital, the insurtech has plans to expand its team and attract talented new hires to enhance platform development and implementation.

Jerad Leigh, chief executive and co-founder of Supercede, said: “Securing this funding is a testament to the transformative power of our platform. We are not just building a company – we are shaping the future of reinsurance.

“This investment accelerates our ability to deliver unparalleled value to our clients and drives us closer to our goal of becoming the indispensable operating system for the global reinsurance market.”

Expansion

Supercede’s platform represents more than 140 member companies globally, including insurers, brokers and reinsurers.

The platform aims to enhance data preparation and deal management, thus making reinsurance teams more effective and profitable.

Ben Rose, president and co-founder, added: “This investment is reflective of the incredible support Supercede has received from a global community of buyers, brokers and underwriters determined to bring better data and technology to the reinsurance industry.

”We are responding to their call to action and, with these funds, will scale our capabilities to ensure our platform remains the top choice for reinsurance buying teams.”

Margaux Gregoir, principal at Alven Capital, added: “It is exactly what we look for in a market leader. We believe in Supercede’s vision and are excited to support its journey to becoming the dominant force in the reinsurance technology sector.”