Paris-based Continuity, specializing in AI and external data for professional and commercial P&C insurers, has successfully raised €10 million in a Series A funding round. The round was led by 115K and supported by existing investors Elaia and Bpifrance through their Digital Venture fund. This comes three years after the company secured €5 million in 2021.
With the new funds, Continuity plans to develop its technology and AI to address challenges in the large risks segment of the insurance industry. The company also intends to hire approximately 15 new team members, expanding its existing team of over 30, to strengthen its presence in Europe.
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CEO’s Vision for Growth
Benoît Pastorelli, CEO and co-founder of Continuity, expressed excitement about the funding, stating, “This new funding round, secured with top-tier investors, will accelerate our development and enhance our innovation capabilities. We are proud to support the transformation of the P&C sector and contribute to the success of our insurer partners. Specifically, this funding will allow us to expand our solution to optimize the management of large industrial and agricultural risks, solidifying our position as a technological leader in France and initiating our European expansion.”
Solving Key Industry Challenges
Continuity addresses critical issues in the insurance sector, where 10 to 15 percent of professional and business P&C insurance contracts do not match the insured’s actual conditions due to subscription errors or changes during the contract’s term. The company’s platform empowers commercial insurers to make smarter, faster underwriting decisions by utilizing data and AI.
Proven Impact and Industry Trust
Founded in 2019, Continuity is a trusted partner for professional insurers, specializing in data intelligence for P&C in SME and Professional segments. The platform is used by over 500 underwriters to monitor one million contracts, representing €2 billion in premiums. Key partners include AXA, Crédit Agricole, Entoria, Groupama, MACIF, IME, Sada Assurances, Wakam, and Hiscox.
Support from 115K and Long-Term Investors
115K, the investment fund of La Banque Postale group, invests in Seed and Series A rounds for startups in FinTech, InsurTech, Cybersecurity, AI, and ESG. Damien Launoy, Managing Director of 115K, remarked, “We were impressed by the robustness of the technology, the strong expertise of the teams, and the rapid, tangible returns on investment seen among Continuity’s clients. This positions Continuity perfectly as a European leader in its market. Our fintech expertise and long-term investment capacity make 115K a natural and solid partner to support this growth, and we are excited to lead this funding round alongside the company’s long-time shareholders.”
With this substantial investment, Continuity is well-positioned to advance its AI-driven solutions, enhance risk detection and management in the insurance sector, and expand its influence across Europe.
