Fenris Digital, a software and analytics company, has bagged $1.7m in its seed funding round.
The capital injection was supplied by former FICO CEO Larry Rosenberger, SixThirty, the Centre for Innovation in Technology (CIT), Tyson’s Angels Group, and 757 Angels Group.
Proceeds from the round will be used to keep up with the rising demand for its API, which includes hiring staff and building upon its suite of products.
Founded in 2016, Fenris helps to streamline the application process for financial and insurance products.
Its machine learning technology monitors a repository of millions of policy result records across dozens of personal, commercial, and life insurers, to generate predictive algorithms.
Fenris founder and CEO Jennifer Linton said, “Fenris continues to utilize our core strengths and unique positioning in the InsurTech and FinTech industries to accelerate growth and meet rising demand.
“We are delighted our clients are experiencing the benefits of modernized quoting processes, and we want to ensure we are positioned to make a tremendous impact on the billions of applications for insurance and financial products initiated each year.”
As part of the deal, Larry Rosenberger will join the Fenris board of directors.
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