Continuity, a Paris, France-based company that provides AI-driven solutions for professional and commercial P&C insurers, secured €10 million in Series A funding.
Investors
The round was led by 115K, with participation from Elaia and Bpifrance through their Digital Venture fund.
Founded in 2022, 115K is the corporate venture capital arm of La Banque Postale based in Paris, France. The firm prefers to invest in early-stage companies based in Europe and operating in the fintech, insurtech, and cybersecurity sectors.
Continuity Use of Funds
The company will use the funding to enhance its AI-driven risk detection for enterprise insurance, investing in technology and expanding its solutions to manage large industrial and agricultural risks, supporting its growth and European expansion.
About Continuity
Founded in 2019, Continuity specializes in AI-driven risk detection for professional and commercial P&C insurers. The company offers innovative Software as a Service (SaaS) products that leverage external data and artificial intelligence to enhance risk assessment and monitoring. The company focuses on enhancing risk assessment, portfolio monitoring, and speeding up the underwriting process. Their goal is to ensure companies are always insured at the correct risk level, helping their long-term stability and success.
Funding Details
Company: Continuity SAS
Raised: $10.0M
Round: Series A
Funding Month: June 2024
Lead Investors: 115K
Additional Investors: Elaia, Bpifrance
Company Website: https://www.continuity-tech.ai/
Software Category: AI Risk Detection
Source: https://www.reinsurancene.ws/continuity-latest-funding-round-to-boost-development-and-enhance-innovation-capabilities/