Salute e Benessere
ZA Tech Rebrands as Peak3, Raises US$35M Series A led by EQT
Besides the successful fundraising, has recently achieved key milestones underpinning the rebranding. These transformative achievements include launching its first multi-country, multi-tenant core modernisation in Europe , rolling out an integrated customer data and big data platform for scaling analytics and AI capabilities, and establishing its first technology centre in Europe . The rebranding coincides with another major milestone: Issuing over a billion insurance policies on systems – including the first policies issued to North American customers and the first ones to be issued in Africa .
"We have evolved from an embedded insurance pioneer in Asia to a global end-to-end technology partner for the insurance industry," said Bill Song , Group CEO and Co-Founder. "Our new name represents three pinnacles: scaling the heights of innovation, surpassing performance limits, and delivering superior reliability – as we help insurers reach the highest summits of their cloud, data, and AI transformation."
Bill Song also emphasised the growth opportunity: "There is an incredible tech investment backlog in the US$7-trillion global insurance industry. Continued digitalisation and the proliferation of AI will require structural investments by insurers over the next decade to modernise their core systems. We are uniquely positioned to capture this opportunity by providing the tech core foundations and innovation use cases."
To accelerate its growth journey, completed its Series A fundraising and welcomed two new investors on its cap table: EQT, a major global technology investor with a deep heritage in Europe , and Alpha JWC Ventures, a leading venture firm in Southeast Asia . With the funding, will advance its analytics and AI capabilities toward an intelligent core insurance solution, grow its EMEA operations and establish new system integrator partnerships. targets double-digit ARR growth this year and is on the path to reach cashflow breakeven over the coming quarters.
" has also proven its capability to deliver greenfield digital insurance initiatives and complex multi-country core modernisation projects in APAC and EMEA. As the lead investor, EQT is committed to empowering
in its go-to-market acceleration by leveraging our global network," stated
Clara Ho , Partner at EQT.
J.P. Morgan acted as exclusive financial advisor to for this Series A fundraising.
For media inquiries and interview requests, please contact Carling Sia, Global Head of Branding and Marketing, at carling.sia@peak3.com.
For more information on , please visit www.peak3.com.
For more information on EQT, please visit www.eqtgroup.com.
For more information on Alpha JWC Ventures, please visit www.alphajwc.com.
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