Inari, a provider of core technology infrastructure for global insurance and reinsurance industry, has announced it has raised $5.2 million in funding from a seed round led by Caixa Capital Risc through Criteria Venture Tech.
The funds enable Inari’s longer-term growth strategy, which includes the expansion of its teams in Barcelona and London, to grow its reach. The infrastructure provider will be able to build more features based on its technology to cater to their current (re)insurance clients as well as attract new opportunities.
Inari provides core insurance policy administration, underwriting dashboard and bordereaux management systems for various clients including managing general agents, insurance carriers, Lloyd’s syndicates and reinsurance companies in Europe, the Lloyd’s and London markets, the US, Asia, and Bermuda.
In a news release, Inari said their platforms “provide a modern, easy-to-use tool that manages the end-to-end policy lifecycle while handling the ‘heavy lifting’ of day-to-day (re)insurance process management.”
“Today’s announcement validates inari’s vision, value and year-on-year track record as part of our mission to revolutionize the (re)insurance industry, establishing Inari as a core technology provider that is trusted and valued by the insurance industry and is attracting talent and investors,” said Frank Perkins, CEO at Inari. “The funding will support enhancements to our product offering, enable us to add to our team’s insurance industry and technology expertise and to expand globally.”
“Inari's innovative approach to insurance infrastructure has the power to redefine how we perceive risk and resilience in the insurance sector,” said Xavier Álvarez, director of tech funds at Caixa Capital Risc. “Our investment signifies our belief in their vision and our commitment to fostering innovation in industries ripe for change.”