Mandatum Life acquires share of AI company PROWLER.io
Mandatum Life Insurance Company Ltd has acquired a minority share (1.4%) of PROWLER.io, a company that develops artificial intelligence platforms to support decision-making in companies. Mandatum Life’s acquisition was realised through a convertible bond that has since been converted into PROWLER.io shares.
Tencent, Pearson, FutureShape, RB Capital, Amadeus Capital Partners, Passion Capital, SG Innovate, Atlantic Bridge and Cambridge Innovation Capital also participated in the financing round.
PROWLER.io’s total valuation following the financing round is USD 100 million.
“PROWLER.io is one of the world’s leading AI developers, and our aim is to develop future wealth management solutions together with them,” says Lauri Vaittinen, Mandatum Life’s Senior Vice President, Investment Solutions.
Sami Salomaa, Vice President, AI for Finance, sami(at)prowler.io, tel. +358 40 558 9233 (FI), +44 7305 426201 (UK)
PROWLER.io is an artificial intelligence company that was founded in Cambridge, UK, in 2016 to help companies make better decisions. PROWLER.io’s VUKU is an AI engine that combines branches of mathematics, economic theory and technology in an unprecedented way. VUKU can process moving data in real time, adapt to uncertainty, learn from experience and act on sparse information. PROWLER.io’s goal is to ensure that business is powered by people; empowered by AI.
Mandatum Life is one of Finland’s most respected and solvent financial service providers. It is part of the successful Sampo Group. Mandatum Life offers both its private and corporate customers comprehensive services in preparing and prospering. The company’s services include unit-linked insurance and the related wealth management, personal insurance, pension and reward solutions for companies and the related consultation services.
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