Bootstrapped and profitable AI InsurTech company mea Platform raises €42.2 million

A significant funding round has seen UK-based AI-native InsurTech company mea Platform secure €42.2 million in minority growth equity. This investment, led by growth equity firm SEP, is earmarked for accelerating product development and enhancing customer engagement within the insurance technology sector. The company's bootstrapped and consistently profitable status prior to this funding underscores its robust business model and market traction. mea Platform leverages proprietary, insurance-specific AI to automate end-to-end operations for carriers, brokers, and Managing General Agents (MGAs). Its unique selling proposition lies in its domain-specific Language Model (dsLM) and insurance-specific knowledge graph, enabling fast, non-invasive deployments and immediate results in an industry ripe for digital transformation. This technology aims to address the substantial operational costs within the insurance sector, estimated to be in the trillions of Euros globally. The impact of mea Platform's solutions is far-reaching, targeting significant gains in Gross Written Premium (GWP) and profit margins, alongside reported reductions in operating costs of up to 60%. With its platform deployed in 21 countries and having processed over €337.5 billion in GWP, the company serves a diverse clientele including major insurance entities and consultancies. This funding round positions mea Platform to further solidify its presence and expand its reach in the global InsurTech landscape, contributing to the digital evolution of the insurance industry.