Supercede, a reinsurance tech firm, has completed a $15 million Series A funding round, led by Alven with contributions from Mundi Ventures along with an existing investor roster that included Outward, Seedcamp, MMC Ventures, and AFG Partners.
The funds, according to the firm, will be used to advance its mission to transform the reinsurance sector through next-generation technology.
Supercede also plans to expand its team by attracting top-tier talent to enhance platform development and implementation.
Jerad Leigh, Chief Executive Officer and Co-founder, Supercede, stated, “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.”
Supercede’s platform automates and optimises the reinsurance process, enabling greater risk management, optimised coverage, and enhanced pricing outcomes. So far, the company has over 140 member companies globally, including insurers, brokers, and reinsurers using the platform.
Margaux Gregoir, Principal, Alven Capital, commented, “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, added, “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.”
Founded in 2019 and headquartered in London, Supercede has established itself as provider of reinsurance technology, with revenues surging over 500% in the past year, along with increasing investor confidence.
Faisal Al-Hussein, Principal, Mundi Ventures, expressed support, “Supercede is transforming the reinsurance industry with its cutting-edge platform. Our investment underscores our confidence in their potential to set new industry standards.”
Ivan Ong, Partner, AFG Partners, said, “Supercede is uniquely positioned to dominate the reinsurance technology space. Their vision, combined with their relentless execution, is a game-changer for the industry.”
