Zelros raises $11 million in Series A
Paris-based insurance distribution platform Zelros closed an $11 million Series A round led by BGV with ISAI Cap Venture, Plug and Play, HI INOV, 42CAP, and astorya.vc as participants. Since its inception in 2016, the company has raised $16.5 million.
The Zelros AI business platform offers insurance advisors and agents a streamlined and semi-automated experience from product/service needs discovery and sales to underwriting. It also allows insurance providers to offer policyholders fully automated, advisor-free subscription options. According to the company (a team of ~50), it currently works with 15 insurance providers in Europe, including BPCE, AXA, Crédit Agricole, MAIF, La Banque Postale, AssurOne, +Simple, across P&C and life insurance business lines.
“Digital transformation is fundamentally changing how businesses operate, and with insurtech funding reaching an all-time high of $ 7.1 billion in 2020, the insurance industry is no exception. At Zelros, we focus one hundred percent of our attention on developing AI-driven technology to improve and advance the insurance industry. We’re passionate about helping insurance players transform into technology-first companies, and the support of BGV, Capgemini, and all of our investors will empower us to accomplish our mission.” – Christophe Bourguignat , co-founder and CEO, Zelros .
“Zelros is using AI to improve traditional insurance-industry standards and deliver immediate business value and ROI improvements for its customers. Their solution is helping insurance professionals to be more efficient and integrates smoothly into existing workflows while providing transparency on the final recommendation.This is exactly what we look for in the Enterprise 4.0 startups we invest in. At BGV, our expertise lies in sourcing the best startups in hubs outside of the valley and helping them scale up globally. We’re thrilled to work together with Zelros to build their business in Europe, North America, and beyond. ” – Eric Buatois , general partner, BGV.
Zelros’ co-founder and COO, Damien Philippon, will relocate and launch the company’s Montreal-based North American headquarters in Q3 2021. The company plans to hire five full-time employees at its North American location by the end of the year.