Lydia AI, formerly known as Knowtions Research, a Toronto, Canada-based health AI insurtech startup, raised $8 million in a Series A+ funding round.
The round, which brought total funding to $14 million, was led by existing investor Information Venture Partners, with participation from new investors, including 500 Global.
The company intends to use the funds to establish itself as the new industry standard for health risk scoring, using digital medical data, by expanding the health score’s applicability to different types of health and life insurance products.
Company: Knowtions Research Inc.
Round: Series A+
Funding Month: October 2021
Lead Investors: Information Venture Partners
Additional Investors: 500 Global
Company Website: http://www.lydia.ai/
Software Category: Health risk scoring platform
About the Company: Led by Anthony Lee, CEO, Lydia AI provides a health risk scoring platform for insurers to personalize the experience, accelerate underwriting practices and develop new products. The company has partnered with a leading insurer to launch the first series of digital Lydia AI health score products. The company selected Taiwan, Asia’s 4th largest insurance market, as its pilot market and plans to use its funding to expand into Japan, South Korea, and Southeast Asia. Lydia AI currently employs 42 people and plans to add 25 new hires to strengthen and grow a global presence in the next year.