CommerzVentures invests $6m in Concirrus

The corporate venture arm of CommerzBank backs early- and growth-stage companies in the financial services and insurance sectors, starting at series-A. The initial investment size ranges from €2.5m to €10m.

The company intends to use the funds to expand its operations and business reach.

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

In 2018, IQ Capital and Eos Venture Partners co-led a £5m funding round for Concirrus.

Concirrus raised $20m in February 2020 in a funding round led by AlbionVC along with participation from current investors IQ Capital, Eos and several angel investors.

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.

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