EQT Ventures leads £25m series-B for Cytora

Existing backers Cambridge Innovation Capital and Parkwalk Advisors also took part in the round, alongside angel investors.

The company will use the fresh capital to fund product development and international expansion.

Previous funding
Cambridge Innovation Capital took part in a £4.4m funding round for Cytora in 2017, with insurance companies QBE Insurance Group and Starr also taking part.

Company
Founded in 2014 as a spinout from the University of Cambridge, London-headquartered Cytora develops software for commercial insurance underwriting. The platform uses machine learning and applies both public and proprietary information alongside insurers' own data. It is capable of being integrated into clients' existing underwriting applications, e-trade platforms and consumer websites.

People
Cytora – Richard Hartley (co-founder, CEO); Aeneas Wiener (co-founder, chief technology officer).

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• Topics
• Expansion
• UK / Ireland
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• EQT Ventures
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