The latest from Optalitix who have just completed on a successful funding round;
Optalitix, the specialist insurance and finance software provider, announces a follow-on fundraising round of US$3mil, led by existing investor Calculus Capital, with participation from 24 Haymarket and others. The latest successful funding brings the total capital raised by the company to US$8mil.
The funding proceeds will be used to further accelerate product innovation and support the execution of Optalitix’s ambitious expansion plans.
Digital transformation is now the top priority for many insurance organisations, worldwide. Technology spending is forecast to grow by more than 25 percent by 2026 as solutions that address the most urgent pain points become more important to maintain competitiveness and build market share.
In this environment, Optalitix has gone from strength to strength, partnering with major UK insurers by providing leading software pricing products that improve underwriting performance, drive operational efficiency and support business development.
“Optalitix is perfectly positioned in a market where digital transformation is driving more effective pricing and underwriting,” said Alexander Crawford, Co-Head of Investments at Calculus. “Targeting a vast global market, the company is backed by an exceptional management team that combines deep knowledge and understanding of the insurance industry with extensive commercial expertise in software engineering. We are thrilled to collaborate with them to help the next stage of their development.”
Jonathan Shapiro, co-founder and director of Optalitix, said: “Our products offer a best-of-breed solution with fast implementation, enhanced workflow, and seamless integration into existing frameworks utilising existing models. This has already proved invaluable to the success of our clients. Now, with further support from Calculus and our other investors, we’re excited to expand our capabilities to reach a broader user-base.”
Dani Katz, co-founder and director of Optalitix, continued: “Our fundraising will enhance Optalitix’s products for our insurer client base, ensuring continued development of our cutting-edge insurance solutions that drive faster pricing and underwriting digitisation and give our clients a clear competitive advantage.”
Optalitix’s award-winning products are designed for ease of use, helping businesses enhance their risk management with versatile models that optimise pricing, improve underwriting performance, boost efficiency, and reduce costs. They also empower more effective data analysis, generating actionable insights that drive growth.
Optalitix provides two key products: Optalitix Models, which converts Excel models into a cloud-hosted system, converting models into code in minutes; Optalitix Quote, which delivers a digital pricing and underwriting workbench.
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