Peak3 secures US$35 million for global expansion

Peak3, formerly known as ZA Tech, has recently rebranded after securing a substantial US$35 million in Series A funding from EQT and Alpha JWC Ventures. This funding injection is set to propel Peak3's global expansion efforts and bolster its investments in cutting-edge data and AI solutions. The company specializes in providing a cloud-native, modular insurance core and distribution system tailored for life, health, and property and casualty insurance sectors, catering to both digital and traditional insurance entities.

Established in 2018, Peak3 has swiftly positioned itself as a reliable technology partner for prominent insurers such as AIA, Astra, Prudential, and Zurich, in addition to collaborating with digital platforms like Grab, Home Credit, Klook, and OVO. Noteworthy achievements include launching core modernization initiatives in Europe, enhancing analytics and AI capabilities, and establishing a technology hub in Europe.

Having issued over a billion insurance policies worldwide, Peak3 has successfully transitioned from an Asian embedded insurance pioneer to a global technology collaborator for the insurance sector. The company's primary objective is to foster innovation, efficiency, and dependability in cloud, data, and AI transformations for insurers on a global scale.

With the recent influx of Series A funding, Peak3 is gearing up to further enhance its analytics and AI solutions, expand its presence in the EMEA region, and forge new strategic partnerships. By focusing on modernizing legacy systems and streamlining operations, Peak3 is dedicated to empowering insurers not only in Southeast Asia but also across the globe.

Peak3's evolution into a key player in the insurance technology landscape signifies a significant milestone in the industry. With a strong emphasis on innovation and collaboration, Peak3 is poised to drive positive change and efficiency in the insurance sector, ultimately benefiting insurers and policyholders alike.