Supercede, a London-based reinsurance technology company, has successfully completed a $15m Series A funding round.
According to Reinsurance News, the investment was spearheaded by Alven, with contributions from Mundi Ventures and support from existing investors including Outward, Seedcamp, MMC Ventures, and AFG Partners.
The company, which was founded in 2019, is known for its innovative platform that automates and optimises the reinsurance process. This technology facilitates enhanced risk management, optimised coverage, and improved pricing outcomes. Supercede has already garnered a significant global following, with over 140 member companies, including insurers, brokers, and reinsurers actively using its platform.
With the fresh capital, Supercede plans to push forward its mission to revolutionise the reinsurance sector using next-generation technology. The funds will be utilised to expand the team, attracting top-tier talent to further develop and implement the platform.
In addition to boosting its technological capabilities, Supercede aims to become the essential operating system for the global reinsurance market. The company’s rapid growth and increasing investor confidence, highlighted by a revenue surge of over 500% in the past year, underline its potential and commitment to transforming the industry.
Supercede CEO Jerad Leigh highlighted the significance of the investment, saying, “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.”
Margaux Gregoir, Principal at Alven Capital, remarked on the company’s growth, “Supercede’s impressive growth trajectory is enabled by the right combination of innovation and domain/sector expertise, the reason why this very special team has an edge in this industry. It is exactly what we look for in a market leader. We believe in their vision and are excited to support their journey to becoming the dominant force in the reinsurance technology sector.”
Ben Rose, President and Co-founder of Supercede, also commented on the investment’s impact, “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.”
Faisal Al-Hussein from Mundi Ventures and Ivan Ong from AFG Partners also expressed strong support for Supercede’s vision and potential to redefine the reinsurance landscape.
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