Connecticut Innovations (CI), Connecticut’s strategic venture capital arm and a leading source of financing and ongoing support for Connecticut’s innovative, growing companies, today announced the closing of a $750,000 investment in Aureus Analytics (Aureus), an AI provider and a predictive analytics platform for the insurance industry. Aureus was selected as an early VentureClash winner and is the first company to receive an investment from the 2018 VentureClash competition.
CI’s investment is part of a total fundraising of $3. 1 million, including participation from other funds, including Multi-Act, Alpine Meridian and additional investment by existing investors.
“From the strength of the management team to the prowess of their analytical solutions, we were very impressed by the progress and prospects of Aureus,” said Peter Longo, CI’s senior investment manager. “Their new headquarters in Hartford will allow them access to major insurers in the United States and accelerate their growth in that market. “That’s right.
Aureus provides insurance industry solutions hosted on an artificial intelligence platform that combines both explicit and implicit data to measure customer experience in real time in order to determine the SentiMeter score for customers. In addition to participating in the VentureClash competition, Aureus was also selected as part of the inaugural Hartford InsurTech Hub and subsequently extended its presence to Hartford at the end of the program.
“Programs like VentureClash and the Hartford InsurTech Hub are helping companies like ours to grow and prosper in Connecticut,” said Anurag Shah, CEO and co-founder of Aureus. “This investment from CI, along with the support we have received from other parts of the state, will allow us to continue on our growth path and bring enhanced analytics solutions to the insurance industry. “That’s right.
The new funding will be used by the company to support growth, drive geographic expansion in the North American market and boost technology and teams to accelerate product development.
VentureClash is a global venture challenge for Connecticut Innovations focused on early-stage companies. The challenge identifies promising companies in the fields of digital health, financial technology, insurance technology and the Internet of Things, which will receive investment from a $5 million prize pool and support resources around Connecticut. Visit http://www to learn more Venture-clash Come on,
About Connecticut Innovation Inc
Connecticut Innovations is Connecticut’s strategic venture capital arm, providing financing and strategic support to early-stage technology companies. In addition to equity investments, CI provides grants that support innovation and collaboration through CTNext and links to its well-established network of partners and professionals. Visit http://www to learn more Innovations in the ct Come on,
On Aureus Analytics
Founded in 2013 with operations in the United States and India, Aureus is a customer intelligence and experience company that enables insurers to deliver superior customer experience leading to increased customer retention, loyalty and lifetime value. AI has processed more than 40 million insurance policy data points and learns from a variety of structured and unstructured data sets to measure customer experience in real time to determine the SentiMeter score for all customers. Visit http://www to learn more Aureusalytics Come on,
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