Global insurer and FinTech Acrisure has raised $725m in Series B-2 preferred equity to fuel its ongoing expansion.
The funding brings Acrisure to a $23bn valuation, representing a 31% increase from its last raise in March 2021.
A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) led the round, with participation from Guggenheim Investments on behalf of certain clients and Oak Hill Advisors.
Acrisure said the new funding will allow it to continue pursuing value-accretive acquisitions, grow its tech enabled solutions, increase marketing and brand awareness, and invest in human and technological infrastructure to support its growth.
Founded in 2005, Acrisure provides customers with intelligence-driven financial services solutions for insurance and reinsurance, real estate services, cyber services and asset and wealth management.
Greg Williams, co-founder, CEO and president of Acrisure, said, “This investment is a testament to our strategic direction and ability to innovate and adapt to the needs of our customers.
“We are thrilled to partner with ADIA and OHA, premier, globally recognized investment institutions, and continue our work with Guggenheim. This transaction reaffirms how the market, and our partners, value the strength of our performance and trajectory for future growth.”
Acrisure recently partnered with provider of cyber insurance security Coalition, to launch a cyber risk assessment. The partnership followed the launch of its dedicated cyber services division at the start of the year.
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