Qumata

Qumata (formerly known as HealthyHealth) provides underwriting solutions via API for life and health insurance companies. The company’s technology collects data such as heart rate, physical activity, and steps taken from applicants to assess the risk of diagnosis for more than 800 medical conditions, which can then be used by life and health insurers to facilitate underwriting decisions. This method allows insurers to tailor premiums to specific risk profiles and offer rewards to low-risk policyholders. This approach also reduces the need for applicants to fill out lengthy applications and carry out medical exams. The company claims that its technology can reduce the time taken to underwrite a policy to less than three minutes. 

In June 2021, the company raised USD 10 million in Series A funding led by MMC Ventures. In February 2022, the company raised a further USD 13 million in Series A funding backed by several investors, which include MMC Ventures. The round is an extension to its Series A round, which it announced in June 2021, bringing its total Series A funding to USD 23 million and total funding raised to date to over USD 25 million.

The new funds will be geared toward expanding its geographic presence, both within the UK and globally, with a particular focus on Asia.

In February 2022, the company raised an additional USD 13 million in  Series A funding backed by several investors, which include MMC Ventures. The round is an extension to its Series A round, which it announced last June, bringing its total Series A funding to USD 23 million and total funding raised to date to over USD 25 million