Ropes & Gray has advised Partners Group, acting on behalf of its clients, on its investment in Akur8, the machine learning-powered insurance pricing and reserving platform, as part of a $120 million Series C funding round, alongside lead investor One Peak and historical investor Guidewire Software.

Developed explicitly for insurers, Akur8 has been revolutionizing non-life insurance pricing with transparent AI since 2019. Its cloud-based, fully integrated platform empowers insurers to price at unprecedented speed, directly influencing financial outcomes and enhancing risk assessments.

The new funding will significantly bolster Akur8’s ability to fuel product innovation, drive growth by leveraging its recent acquisition of Arius, and accelerate strategic expansion into key growth markets, particularly in North America.

The Ropes & Gray team was led by private equity partner John Newton with associates Hayley Stokes and Charlie Shephard.