Allianz Life Ventures backs Accern

New York-based Accern announced a $13 million Series A funding round led by Fusion Fund with participation from Mighty Capital, Allianz Life Ventures, Vectr Fintech Partners and Viaduct Ventures. The company has previously raised $14.5 million.

Established un 2014, Accern is a team of 36. Its AI Platform contains ready-made solutions for the financial service industry across asset management, banking and insurance that allows enterprises to build workflow automation and risk management solutions for investment research, credit lending, financial crimes (KYC) and reputational risks.

“Organizations could lose customers, financial gains and their reputations when they are lagging behind on technology innovation. Accern enables enterprises to increase efficiency by deploying our AI solutions at scale within our no-code AI platform. This round allows us to further democratize AI within enterprises and serve more customers across asset management, banking and now, insurance and fintech.” – Co-founder and CEO, Kumesh Aroomoogan.

Accern’s clients and strategic partners include Allianz, Jefferies, IBM, Google, and Microsoft.

“The consistent growth Accern has driven since we initially met the startup is impressive. Their innovation and success speak for itself, and we are thrilled to be a part of the company’s growth moving forward.” – Emily Reitan, Allianz Life Ventures.

Bottom Line: a few come to mind.