Valen Technologies, a Denver-based provider of predictive analytics experts for the property and casualty insurance industry, has raised $6.5 million in third-round funding. Backers include Core Capital Partners and Appian Ventures. Get more info.
Valen Technologies, the predictive analytics experts for the property and casualty (P&C) insurance industry, today announced that it has closed its third round of funding with a $6.5 million equity infusion.
This latest round of funding from Core Capital Partners, Appian Ventures and other private investors continues Valen's strong financial backing from capital investors.
“Two of the top ten insurance companies have already signed onto Valen's innovative technology that allows insurers to better match price and risk for insurance policies,“ said Mark Levine, a managing director with Core Capital Partners. “The potential market growth in this industry is tremendous. We have confidence in Valen's high customer sign-on rate and its ability to continue to win clients that need advanced predictive analytics.“
This third round of funding will be used as working capital to support Valen's growth strategy through increased investments and expansions in engineering, professional services, and channel development.
“I thank Core Capital Partners and all of our existing investors for their continued confidence in our organization and products. This latest financial support enables us to continue to implement our growth strategy, concurrent with our ongoing effort to educate the insurance industry on the opportunities available with predictive analytics,“ said Dax Craig, President and CEO of Valen Technologies. “We've seen a healthy change in the adoption rate of predictive analytics as the industry begins to experience the benefits.“
About Core Capital Partners
Core Capital is a $350 million private equity fund that provides capital to both early-stage technology ventures and small to mid-sized growth companies where technology is a driver of change in the business or sector. The common thread is that these companies are developing or incorporating disruptive technologies into their businesses. Core Capital focuses principally on the kinds of “core” or fundamental technologies that enable or enhance information, data and communication. Core Capital is headquartered in
For additional information, visit www.core-capital.com.
About Valen Technologies
Valen Technologies is the expert in predictive analytics for the property and casualty insurance industry, offering highly automated predictive analytics solutions to create and deploy predictive models. Valen helps its customers improve decision making by using predictive analytics in the decision process. To learn more about predictive modeling and Valen Technologies, visit www.valentechnologies.com or call 800-280-3304.