Paris, 10 October 2024: Qantev, the leader in health and life insurance with its AI-powered platform, has completed a funding round of €30 million, led by Blossom Capital and with the participation of existing investors Elaia, Omnes, and RAISE Venture.
The funding is said to enable Qantev to improve further its platform and its teams, especially in Artificial Intelligence, as well as to push for more territories primarily in North America and in Asia.
The Level Up – Qantev’s CEO and Co-founder Tarik Dadi said regarding the attainments of the past year:
“The growth we have seen at Qantev over the past 12 months is not only a testament to the work our team has done in solving these challenges but also the need for a solution like ours.”
Dadi explained the presence of the company which is countering the increasing cost burden, chronic diseases, and the grey population faced by the insurers.
In Qantev’s concentrated efforts to serve the emerging Health and Life Insurance Market, they bring the best capabilities within AI, Insurance and Data Analytics, which is why they are probably best placed to tackle the very real and growing problems that are being experienced within the medical sector.”
Said Ophelia Brown, Founder of Blossom Capital.
“Qantev’s laser focus on the soaring health and life insurance market, combined with its deep expertise in AI, insurance, and data analytics makes it best placed to solve the very real, and rising problems being seen across the healthcare industry.”
The company has reported that its technology has cut down claims management from several days to just a few minutes. Thanks to the new funding, the management intends to speed up the production processes and research, as well as the modernizing of its platform in accordance with the increasing needs of insurers all over the world.
Established in the year 2019, Qantev now claims to have customers in 12 countries and in the past year has more than doubled its headcount. This brings the total amount raised by the company to more than €40 million.
With this latest round of investment, Qantev is poised to further disrupt the health insurance industry, offering a scalable solution that promises to improve both efficiency and the quality of care for patients worldwide.
Source: https://www.qantev.com/news/qantev-raise-30-million-euros-from-blossom-capital
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