Galytix secures undisclosed amount in a post-angel equity investment round

Artificial intelligence-powered FinTech Galytix has secured a post-angel equity investment of an undisclosed amount to support its next phase of growth, including sourcing new talent to its team.

Massimo Arnoldi, founder and CEO of Lifeware, and Marc Nourse, former Big4 partner and head of strategy at IAG, have joined the board as non-executive directors, while Keith O’Donnell, founding partner of ATOZ ,and Ravi Venisetti, CTO at Chubb Life, joined the advisory board as part of the new investment.

Founded in 2015, Galytix uses smart data analytics business which uses machine learning to intelligently ingest, curate and synthesise unstructured and structured data. Today it serves global insurers and reinsurers in providing a front-to-back smart data analytics platform enabling smarter, faster and more informed decisions covering the data value chain, and is now looking to expand its offerings.

“Galytix has been strongly supported by its early investors who have brought their considerable experience to develop the company,” said Raj Abrol, CEO of Galytix. “We are delighted to welcome our new board members and investors who will help to propel the company to the next stage of growth. We thank our advisors PwC and Temple Bright.”

PwC Luxembourg and Temple Bright advised on the round. “Galytix has built a powerful smart-data offering spanning all aspects of the data value chain – from discovery, transformation, and curation through to deep insight and visualisation,” said Matt Moran, partner at PwC. “This end-to-end holistic capability is invariably appreciated by companies in the financial services sector.

“We have supported Raj and the Galytix team over the past 12 months on various strategic assignments and are delighted that they have been successful in achieving this key milestone for the business.  We are proud to continue this relationship and supporting them on their development journey.”

Copyright © 2020 FinTech Global

Enjoying the stories?

Subscribe to our weekly InsurTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.