iluminr raises $4.2M to fund expansion plans
- Published: Wednesday, 19 October 2022 09:09
iluminr, the AI-powered resilience engagement platform, has announced it has raised $4.2m in a funding round led by QBE Ventures. The round was also supported by participation from US-based Rebellion Ventures, as well as Australia-based VC firms Investible, Flying Fox and Jelix Ventures.
The investment will accelerate product and machine learning development, and fuel the company’s expansion into new verticals and markets.
iluminr CEO and Co-founder Joshua Shields commented:
“Our customers had repeatedly told us that until now, there has been no meaningful way to engage their organizations in building resiliency. From day one, the iluminr team focused on building the world’s most engaging resiliency platform, delivering turnkey insight to teams, through scalable gamification.”
“The purpose-led approach of iluminr strongly aligns to QBE’s purpose of enabling a more resilient future, and we are excited to work with the iluminr team and help our customers embed resilience in their business,” said James Orchard, CEO, QBE Ventures.
The capital raise represents QBE Ventures’ first investment in an early-stage Australian-based tech firm, providing a foundation for QBE’s growing resiliency proposition beyond its traditional insurance offering.