Peak3, a leading SaaS provider of insurance core systems, has secured $35 million in Series A financing from EQT and Alpha JWC Ventures, paving the way for its expansion into the EMEA region. The company is known for its cloud-native modular core system that caters to various insurance needs such as life, health, and property insurance. With an impressive client roster including AIA, Generali, Prudential, and Zurich, Peak3 has established itself as a reliable technology partner in the insurance industry.
In addition to the successful fundraising, Peak3 has achieved significant milestones such as the launch of an integrated customer data platform and the establishment of a technology hub in Europe. The company has issued over one billion insurance policies globally and continues to innovate with its embedded insurance strategy, partnering with digital platforms like Carro, Grab, Klook, and PayPay.
“Our new name symbolizes our commitment to helping insurers elevate their cloud, data, and AI transformation efforts,” says Bill Song, CEO, and co-founder of Peak3. The company aims to capitalize on the growing demand for technology investment in the insurance industry, driving double-digit ARR growth and reaching cash flow breakeven in the near future.
To support its growth plans, Peak3 has welcomed EQT and Alpha JWC Ventures as new investors. EQT, a global technology investor, and Alpha JWC Ventures, a leading venture capital firm, will help accelerate Peak3’s market launch and expand its business in EMEA. The company is focused on developing its analytics and AI capabilities to offer an intelligent core insurance solution and forge partnerships with system integrators.
JP Morgan served as the exclusive financial advisor for Peak3’s Series A financing, reaffirming the company’s strong financial standing and growth potential. For more information about Peak3 and its innovative insurance solutions, visit http://www.peak3.com. To learn more about EQT and Alpha JWC Ventures, visit http://www.eqtgroup.com and http://www.alphajwc.com.
For media inquiries and interview requests, reach out to Carling Sia, Global Head of Branding and Marketing at Peak3. The company is on a mission to drive innovation in the insurance industry and transform the way insurers approach technology. With a focus on cloud, data, and AI transformation, Peak3 is poised for success in the global insurance market.
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