01/05/2024

InsurTech PeppercornAI raises £3.25m in latest funding round

Leading InsurTech 50 firm, pioneering conversational AI solutions for the insurance industry, PeppercornAI has announced the successful closure of its latest funding round, raising £3.25 million.

The funding round saw substantial contributions from various investors, including Wealth Club, which raised £1.9 million, alongside high net worth individuals, EHE Capital, and Angels Invest Wales. Despite challenges posed by market conditions, the round was heavily oversubscribed, underscoring investor confidence in PeppercornAI’s innovative approach to transforming the insurance sector.

PeppercornAI specialises in leveraging conversational AI technology to streamline operational processes, enhance risk management, and deliver unparalleled customer experiences within the insurance ecosystem. Last year, the company launched its SaaS platform, Pipr, specifically tailored to meet the evolving needs of the motor industry by facilitating rapid digital transformation and offering substantial improved efficiencies to insurance providers.

Our Corporate & Private Equity Senior Associate, Cath Golledge advised PeppercornAI on the fundraise, having advised on their previous investment rounds. The infusion of capital will enable PeppercornAI to further enhance its AI platform and bolster its capabilities to meet the growing demand for its solutions, both domestically and internationally.

Ian Law, PeppercornAI’s Founder and COO/CFO, said:

“Cath and the team at Capital Law have gone above and beyond in managing this investment and multiple different investors for us. Cath truly went the extra mile and quickly adapted as the deal evolved with the various parties. The team’s unwavering support and commitment have been invaluable, and we are immensely grateful for the ongoing relationship we’ve built.”

Cath Golledge, Capital Law’s Corporate & Private Equity Senior Associate, said:

“I’ve had the pleasure of working closely with PeppercornAI for some time now. It’s been brilliant to witness their remarkable progress and this successful fundraise marks a significant milestone in their journey. I am excited to continue supporting them as they continue to innovate and drive positive change within the insurance industry.”