Percayso Inform, a groundbreaking UK-based company that turns insurance data into insights, has successfully closed a £2.7m funding round. The company, known for its smart solutions which have been adopted by insurers, brokers, and MGAs, continues to expand rapidly.
The investment round was led by insurance industry veteran Neil Utley, alongside existing venture capital backer Praetura Ventures. This marks a second major investment into the company, reflecting its growing influence within the InsurTech sector.
Percayso Inform operates by aggregating data from a multitude of sources to deliver a comprehensive quote intelligence suite. The technology enables insurers to access vast volumes of intelligence via a simple API call. Its robust platform allows insurance providers to customise their strategies and deployment by employing rules and models in their own environments through a SaaS model.
The company has grand plans for the recently raised funds. The objective is to enhance its existing portfolio of services and further establish its footprint in the UK motor insurance market. Following the acquisition of Cazana, now rebranded as Percayso Vehicle Intelligence, the company is better equipped than ever to achieve this goal.
Neil Utley, whose impressive career includes key roles with Privilege Insurance, Cox Insurance Group, and leading Hastings’ management buyout in 2009, has been welcomed as an investor. His extensive experience and knowledge of the motor insurance market is expected to be instrumental in realising Percayso Inform’s ambitions for its Vehicle Intelligence division.
Percayso’s Managing Director, Rich Tomlinson, said: “We’re delighted to welcome Neil as an investor. He has a breadth of experience and knowledge to share from his 30 plus years of working in our industry at the highest level.
“In particular, his expertise in the motor insurance market will be invaluable in helping us to achieve our ambitions for Percayso Vehicle Intelligence. And we’re hugely proud that Praetura Ventures are continuing to support us. We’ve forged a fantastic relationship and in particular, I’d like to offer special thanks to Guy Weaver from their team who played a critical role in the Cazana acquisition.”
Last year, Percayso Inform received an investment from Praetura Ventures which was utilised to extend its proposition to deliver a full quote intelligence suite. This past relationship and continued investment reflect a solid partnership and mutual growth expectations.
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