ILC ARTICLE

THL acquires AI start-up

26th April 2022

Private equity firm Thomas H. Lee Partners (THL) has become the major shareholder in US-based Carpe Data, which uses proprietary algorithms and AI to collate and interpret data for the insurance industry.

THL plans to use its investment to support further technological development which it hopes will consolidate Carpe Data’s leading position as the next-generation data company for insurers.

Edward Shahnasarian, THL Director, said, “As leading investors in the insurance and automation space for over 20 years, we have witnessed the growing demand among carriers for automated alternative data and predictive analytics. With a strong track record of innovation and growth, Carpe Data is meeting this demand by creating a new market for alternative data to unlock automation and improve outcomes across the insurance lifecycle.”

Max Drucker, Founder and CEO of Carpe Data, added, “Since forming Carpe Data in 2016, we have rapidly grown and cultivated a blue-chip customer base, and we believe THL is the ideal partner for the next phase of our journey. With this investment, we have a unique opportunity to further expand across core segments, introduce new products and use cases, and enter adjacent markets.”