Quantemplate raises over $12 million for AI insurance and reinsurance data solutions

Quantemplate, a startup providing self-service, cloud-based automated data solutions for insurers and reinsurers, today revealed that it raised over $12 million in a recent funding round led by Route 66 Ventures and Transamerica Ventures, with participation from Anthemis Group, Allianz X, and Insight Catastrophe Group. The raise brings the New York- and London-based company's total raised to over $25 million, which CEO David Lundgren said will fuel R&D and customer acquisition as Quantemplate grows its global sales and marketing teams. Coinciding with the capital infusion, Quantemplate also announced the general availability of its platform. "With this recently secured round of funding, Quantemplate is primed and ready to present our proven technology to the [insurance and reinsurance] industry. We are eager to provide the unique tools and insights customers need to make business processes more efficient, while at the same time appreciating a more comprehensive assessment of risk," said Lundgren.