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UK insurtech Hyperexponential raises $73M and eyes US expansion
London-based insurtech Hyperexponential has raised $73 million in an equity round of funding from Battery, A16z, and Highland Europe.
Prior to now, Hyperexponential had raised a $18 million round of funding in 2021, and in the intervening years the company says it has grown sales ten-fold while remaining profitable — and it claims big-name clients such as insurance giant Aviva. A $73 million equity-based funding round stands out like a sore thumb in the current economic climate, suggesting that the target startup would have an attractive balance sheet and solid growth trajectory to warrant such a cash injection. Moreover, that Hyperexponential is bringing in high-profile U.S. VC firms points to an international roadmap, with the company confirming plans to expand beyond its current operations in the U.K. and Poland to the lucrative U.S. market.
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