Quantemplate announces David Lundgren and new investment capital to support further expansion into UK, US and European markets
Lundgren has worked at firms such as Allianz, CUNA Mutual, General Electric, and AgPro Exchange, and currently serves on the boards of Jewelers Mutual and Bunker.
“Quantemplate is continuing to establish itself as a key player in the digital transformation of the insurance industry,” said Yann Ranchere from Anthemis, one of Quantemplate’s investors.
“With David Lundgren bringing his unique insurance experience and new funding from Columbia Lake Partners as well as historical investors, we are excited to see Quantemplate enter a new phase of growth.”
The company, which uses machine learning to help insurers and reinsurers grow their business through data and analytical insights, has also received £2.5 million of new capital to accelerate its expansion plans.
This follows revenue growth of 500 percent during the last 12 months.
The latest £2.5 million of capital, from Columbia Lake Partners, is in addition to fresh financial commitments from Quantemplate’s original investors: insurtech venture capital firms, Route 66 Ventures and Anthemis, alongside TransAmerica Ventures and Allianz. Quantemplate has received a total investment of over £10 million since its founding five years ago.
Lundgren said: “This year, to add to the continued confidence of the investment community, Quantemplate has also experienced a real shift in market momentum with leaders in the Life and the P&C sectors, as well as major reinsurers, signing multi-year agreements with us.”
The firm’s expansion plans focus on the UK, US, and European markets.