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[Funding News] NYC-based Sixfold Secures $15Million in Series A Round Funding

Sixfold, a company empowering underwriters with a generative AI solution for end-to-end risk analysis, secures $15million in series A round funding.

Sixfold, a company empowering underwriters with a generative AI solution for end-to-end risk analysis, secures $15million in series A round funding.

Salesforce Ventures led the funding round, with participation from Scale Venture Partners, Bessemer Venture Partners, Crystal Venture Partners, and all other prior investors. The money will be used by the business to expand its staff of AI/ML engineers, improve product capabilities, and quicken research and development.

Read also – [Funding News] TX-based Vantage Discovery Secures $16Million in Series A Round Funding

Sixfold, under the direction of CEO Alex Schmelkin, offers a generative AI solution designed specifically for insurance underwriting. The underwriting process is streamlined by the platform, freeing up underwriters to concentrate on making decisions. It has partner integrations with Guidewire, EXL, and other companies.

Commercial P&C, specialty, and life insurers including AXIS Capital, Zurich Insurance Group, Generali Global Corporate & Commercial, and Mosaic Insurance are among the clients of Sixfold, which has been operating for a full year. Additionally, the company has become a Guidewire Insurtech Vanguard and has increased the number of companies that it partners with, including EXL.

About Sixfold

Sixfold is the first generative AI product designed specifically with insurance underwriting in mind. Because the platform reduces manual burden, underwriters can concentrate on making wise risk judgements, bringing fun back to underwriting.

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