Sixfold Raises $15M Series A to Enhance Generative AI for Insurance Underwriting
Sixfold is dedicated to transforming the insurance underwriting process by integrating advanced AI technologies.
Company Name: Sixfold
Location: NYC, NY
Sector: Insurance Technology, Artificial Intelligence
Funding Details: Raised $15M in Series A funding. The round was led by Salesforce Ventures, with participation from Scale Venture Partners and all previous investors, including Bessemer Venture Partners and Crystal Venture Partners.
Purpose of Investment: To continue expanding the team of AI/ML engineers, enhance product capabilities, and accelerate research and development efforts.
Leadership: Led by CEO Alex Schmelkin.
Product: Sixfold offers a generative AI solution specifically designed for insurance underwriting. The platform streamlines the underwriting process, allowing underwriters to concentrate more on critical decision-making aspects. It features robust integrations with major industry partners like EXL and Guidewire, facilitating seamless operations and data integration.
About Company: Sixfold is dedicated to transforming the insurance underwriting process by integrating advanced AI technologies. Within just 12 months since its inception, Sixfold has garnered a notable customer base in the commercial P&C, Specialty, and Life insurance sectors, with clients like AXIS Capital, Zurich Insurance Group, Generali Global Corporate & Commercial, and Mosaic Insurance.