Sixfold Raises $15 Million in Series A

Sixfold Raises $15 Million in Series A

Sixfold, a New York-based company specializing in generative AI solutions designed to empower underwriters in the insurance industry, raised $15 million in Series A funding.

The round was led by Salesforce Ventures, with participation from Scale Venture Partners and all previous investors including Bessemer Venture Partners and Crystal Venture Partners.

Salesforce Ventures is the global investment arm of Salesforce. The firm focused on partnering with the most ambitious enterprise technology companies at every stage in their journey. Since 2009, Salesforce Ventures has invested almost $5B in over 400 leading companies in more than 25 countries with offices all over the world including in San Francisco, Irvine, New York, London, Tokyo, and Sydney.

The company will use the funding to expand its AI/ML engineering team, enhance product capabilities, accelerate R&D efforts, and expand into the UK and European Union markets.

Sixfold provides a generative AI solution purpose-built for insurance underwriting. The platform streamlines the underwriting process, enabling underwriters to focus on decision-making rather than manual tasks. The company serves a diverse customer base, including commercial Property & Casualty (P&C), Specialty, and Life insurers like AXIS Capital, Zurich Insurance Group, Generali Global Corporate & Commercial, and Mosaic Insurance.

Funding Details

Company: Sixfold AI, Inc.

Raised: $15.0M

Round: Series A

Funding Month: June 2024

Lead Investors: Salesforce Ventures

Additional Investors: Scale Venture Partners, Bessemer Venture Partners, Crystal Venture Partners

Company Website: https://www.sixfold.ai/

Software Category: Insurance Underwriting