Earnix, a leading provider of dynamic AI for insurance and banking, has raised $290m in a Continuation Vehicle led by TPG GP Solutions alongside JVP.
The deal allows JVP to expand its stake in Earnix while giving early investors liquidity options.
Early JVP investors including Partners Group, HighVista Strategies, Committed Advisors, and Hollyport Capital were offered a choice to rollover or realise returns, with many opting to rollover.
Growth fund investors such as Hamilton Lane and Lexington Partners now collectively hold over 50% of the company. The transaction delivered a gross return of 8.7x to early fund investors.
The company provides a cloud-native, AI-driven platform for real-time decisioning in pricing, underwriting, and product personalisation across insurance and banking. Over 100 tier-1 insurers, including AXA, Assicurazioni Generali, Tokio Marine, Banco Santander, IAG, Toyota Financial Services, and Munich Re, use Earnix to reduce costs, increase revenue, and transform operations.
The $290m funding will support Earnix’s global expansion and accelerate adoption of AI decisioning across the risk cycle, reinforcing the company’s position as a major AI SaaS provider in financial services.
Dr. Erel Margalit, Founder and Executive Chairman of JVP and Chairman of Earnix, said, “I am delighted to partner with TPG, one of the world’s leading investment firms, as they support us in building Earnix into the leading AI platform for the insurance and financial services industries. Once again, AI is changing vertical industries with some of the most advanced technology that we’ve seen to date. I am proud of the Earnix management in North America, Europe, Israel, and around the world as the company becomes a major international leader. As evidenced by Earnix’s predictive vertical AI, artificial intelligence broadly is delivering the ability to use and translate huge volumes of structured and unstructured data to drive transformational growth, improve customer experience, reduce costs, and ultimately, serve more people in our rapidly changing and dynamic world.”
Earnix CEO Robin Gilthorpe said, “We are excited to partner with JVP and TPG GP Solutions; their support validates our leadership in Dynamic AI for the insurance sector. This builds on Earnix’s track record of successful customer deployments in 35 nations around the world and will accelerate adoption of AI-driven decisioning across the risk cycle for the banking and insurance industries.”
TPG GP Solutions Co-Managing Partner Michael Woolhouse said, “We are pleased to partner with JVP in supporting Earnix, a company that is redefining how global insurers and financial institutions make critical decisions through intelligent, real-time AI technology. Our investment strongly aligns with TPG’s longstanding thematic focus on deeply embedded, AI-enabled software solutions that transform how their customers operate. Earnix combines deep technical innovation with proven commercial traction at scale, and we are proud to support their continued growth.”
JVP has previously led major exits including CyberArk ($25bn), Cogent Communications ($3.5bn), and Qlik ($3bn).
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