source: www.cam.ac.uk
Applied Systems, a global provider of insurance software solutions, has acquired Cytora, a University of Cambridge AI spinout that has become the leading digital risk-processing platform for the insurance industry.
Cytora’s platform helps insurers digitise their risk data at scale, turning complex documents and unstructured information into structured, decision-ready formats. The acquisition brings together Cytora’s AI-enabled risk digitisation platform with Applied Systems’ suite of insurance solutions, enabling greater intelligent automation, connectivity and efficiency across the insurance lifecycle. This combination is expected to unlock increased growth and productivity across the sector.
Cytora was founded in 2012 as a University startup with early support from Cambridge Enterprise, which first invested in the company in 2014. Recognising the potential of its technology to transform risk analytics and insurance workflows, Cambridge Enterprise continued to support Cytora through two subsequent investment rounds, backing its evolution from a geopolitical risk analytics start-up into a global provider of AI-powered solutions for risk digitisation.
Amanda Wooding, Deputy Head of Ventures, Cambridge Enterprise Ventures, said: “We are delighted to see Cytora reach this exciting milestone. The acquisition by Applied Systems is a strong endorsement of the transformative impact of their technology on the insurance industry. Supporting Cytora from its early stages has been a privilege and we are proud to have played a part in their journey from a Cambridge startup to the leading risk digitisation platform in the insurance industry.”
This acquisition marks a significant milestone for Cambridge Enterprise Ventures and its mission to support the commercialisation of University research. It reflects the long-term value of investing in early-stage ventures and the potential of Cambridge-founded companies to shape global industries.
Read more about the acquisition from Cambridge Enterprise and Applied Systems.
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