Inari

Inari specializes in intelligent solutions for the (re)insurance sector, focusing on automation and data management through advanced technology applications. Inari, founded in 2017, operates in the (re)insurance industry, delivering innovative technology solutions. The company is headquartered in Barcelona, Spain, and its CEO is Frank Perkins. The firm raised EUR 4.

85 mn in Seed funding on September 8, 2023, led by Caixa Capital Risc, with participation from the Center for Technological & Industrial Development. This funding marks a single deal for the company, totaling EUR 4. 85 mn to date. Inari offers innovative solutions primarily focused on the (re)insurance industry, specifically through its flagship products: Kitsune and Matsuri.

Kitsune is an AI-driven Underwriting Workbench that automates the submission intake process, allowing underwriters, brokers, and operations teams to efficiently manage high volumes of submissions by extracting critical information from various document formats. Matsuri, on the other hand, specializes in Bordereaux Management, streamlining the collection and analysis of policy data for insurers and managing general agents (MGAs). Together, these products aim to reduce inefficiencies, minimize losses, and enhance profitability by providing real-time insights and automated workflows. Inari primarily serves clients in North America and Europe, targeting insurance professionals and organizations looking to leverage technology for precision risk management in their operations.

Inari reported a revenue of EUR 1,070,385. 60 for the most recent year, 2023, and an EBITDA of EUR -3,046,639. 90 for the same period. The company's revenue structure is based on subscription-based models and partnerships with insurance professionals and institutions.

The products, notably Kitsune and Matsuri, are offered under various pricing plans tailored to the needs of its clients, which may include annual subscriptions or tiered access based on the volume of usage and features selected. In September 2023, Inari raised EUR 4. 85 mn in Seed funding, which will be utilized to expand its team in London and Barcelona and enhance its geographical footprint. The company aims to build more features for its products while targeting expansion into new markets to further penetrate the (re)insurance sector.

Specific timelines for these initiatives were not disclosed.