Behavioral analytics engine Sustema secures funding

Zurich-based behavioral analytics engine Sustema has secured seed funding in a financing round led by the Swiss ICT Investor Club (SICTIC). Financial details were not disclosed.

Founded in 2017,  Sustema’s cloud-based service provides behavioral analysis based on the publicly accessible data of over 17,000 companies worldwide to  allow commercial insurers to improve underwriting processes. Sustema will use the seed capital from the funding round to further develop its behavioral analytics service and grow its client base.

“With its highly scalable software as a service (SaaS) model, Sustema is targeting a global market worth around USD 900 billion. Thanks to its deep understanding of the needs of the insurance industry, its comprehensive technical expertise and its strong entrepreneurial spirit, the Sustema team is very well positioned to tap into this high-potential sector and accelerate the growth of its business.” – Peter Kessel, Lead Investor SICTIC.

“We are excited to have successfully completed our first financing round. Having demonstrated the effectiveness of our technology in our work with insurers in Switzerland, Germany, the UK and the US, we now look forward to further developing our offering and to accelerating our expansion into new markets.” – Hans Zimmermann, Co-Founder and CEO of Sustema.