Artificial Labs secures $45m in Series B round

Core Insights - Artificial Labs has successfully completed a Series B funding round, raising $45 million (£32.79 million) to enhance its digital broking and underwriting technology [1] - The investment was led by CommerzVentures, with contributions from Move Capital Fund I and existing investors such as Augmentum Fintech, 6 Degrees Capital, FOM, and TrueSight Ventures [1] Company Overview - Artificial Labs specializes in providing technology solutions for the specialty and commercial insurance sectors, focusing on improving workflow management and system integration for brokers and carriers [3] - The company is based in London and plans to double its size within the next 12 months, indicating strong growth ambitions [2] Market Strategy - The company aims to expand into the US market by 2026 while continuing to strengthen its presence in London [3] - Co-founder David King emphasized that the new funding will enable the company to scale effectively and support the modernization efforts of large brokers and carriers [4] Investment Rationale - CommerzVentures highlighted the unique combination of deep insurance expertise and engineering talent at Artificial Labs, positioning the company to address long-standing efficiency issues in the insurance market [2]