IQ and Eos in £5m round for Concirrus

The business will invest in product development as it looks to expand its customer base internationally.

The latest round brings the total amount raised by Concirrus to £12m.

IQ Capital partner Max Bautin and Eos partner Jonathan Kalman will take seats on the company's board as part of the deal.

Previous funding
Touchstone Innovations led a £3m series-A funding round for Concirrus in 2016. The firm then provided £3m of follow-on funding to the company in June 2017.

Company
Founded in 2012, London-headquartered Concirrus develops data analytics software for the marine and motor insurance sectors. The platform is designed to identify claim-related behaviour by interpreting live data alongside insurers', reinsurers' and brokers' historical data.

People
IQ Capital – Max Bautin (partner).
Eos Venture Partners – Jonathan Kalman (partner).
Concirrus – Andrew Yeoman (CEO).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• Venture