Earnix, a global leader in dynamic AI for insurance and banking, has raised $290m in a single-asset Continuation Vehicle led by TPG GP Solutions in partnership with JVP, the venture capital firm that initially backed the company.
The deal allows JVP to retain and expand its stake in Earnix while offering liquidity to early investors.
The funding round included early JVP investors such as Partners Group, HighVista Strategies, Committed Advisors, and Hollyport Capital, many of whom chose to rollover their stakes. Growth fund investors, including Hamilton Lane and Lexington Partners, now collectively hold over 50% of Earnix.
The transaction delivered a gross return of 8.7x to early fund investors.
Earnix operates a cloud-native, AI-driven platform that delivers real-time decisioning for pricing, underwriting, and product personalisation across the insurance and banking industries.
Its technology is adopted by over 100 tier-1 insurers worldwide, including AXA, Assicurazioni Generali, Tokio Marine, Banco Santander, IAG, Toyota Financial Services, and Munich Re. The platform aims to reduce costs, increase revenue, and transform operational processes for insurers and financial institutions.
The new capital will accelerate Earnix’s global expansion, particularly in AI-driven decisioning across the risk cycle, and further establish the company as a dominant AI SaaS provider in insurance and financial services. The continuation vehicle reinforces JVP’s confidence in Earnix’s growth trajectory and global potential.
Dr. Erel Margalit, Founder and Executive Chairman of JVP and Chairman of Earnix, said, “I am delighted to partner with TPG, one of the world’s leading investment firms, as they support us in building Earnix into the leading AI platform for the insurance and financial services industries. Once again, AI is changing vertical industries with some of the most advanced technology that we’ve seen to date. I am proud of the Earnix management in North America, Europe, Israel, and around the world as the company becomes a major international leader. As evidenced by Earnix’s predictive vertical AI, artificial intelligence broadly is delivering the ability to use and translate huge volumes of structured and unstructured data to drive transformational growth, improve customer experience, reduce costs, and ultimately, serve more people in our rapidly changing and dynamic world.”
Earnix CEO Robin Gilthorpe said, “We are excited to partner with JVP and TPG GP Solutions; their support validates our leadership in Dynamic AI for the insurance sector. This builds on Earnix’s track record of successful customer deployments in 35 nations around the world and will accelerate adoption of AI-driven decisioning across the risk cycle for the banking and insurance industries.”
TPG GP Solutions Co-Managing Partner Michael Woolhouse said, “We are pleased to partner with JVP in supporting Earnix, a company that is redefining how global insurers and financial institutions make critical decisions through intelligent, real-time AI technology. Our investment strongly aligns with TPG’s longstanding thematic focus on deeply embedded, AI-enabled software solutions that transform how their customers operate. Earnix combines deep technical innovation with proven commercial traction at scale, and we are proud to support their continued growth.”
JVP has previously led successful exits including CyberArk ($25bn), Cogent Communications ($3.5bn), and Qlik ($3bn).
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