UK-based InsurTech mea Platform has raised €42.2 million ($50 million) in minority growth equity from London investor Scottish Equity Partners (SEP), marking its first external funding round since launching in 2021.
Unlike many AI startups chasing growth at all costs, mea has been bootstrapped from day one — and profitable for the past four consecutive years. The new capital is aimed squarely at accelerating product development and deepening customer engagement as the company expands internationally.
Founder and CEO Martin Henley said the company received strong inbound interest from investors but ultimately chose SEP for its long-term approach and track record in scaling enterprise technology businesses. The partnership, he noted, is intended to support mea’s next phase of disciplined growth rather than shift its strategic direction.
Betting on Production-Ready AI, Not Experimentation
mea positions itself as an “AI-native” insurance technology company, focused on moving insurers beyond experimentation and into production deployment.
The company develops proprietary, insurance-specific AI tools designed to automate end-to-end operations for carriers, brokers, and managing general agents (MGAs). Its platform combines a domain-specific language model (dsLM) with an insurance-focused knowledge graph, enabling automation across underwriting, claims, policy administration, and other operational workflows.
The core argument behind mea’s approach is industry specificity. Because its models are pre-trained on insurance terminology and structured requirements, the company says deployments are faster and integration is non-invasive — a key concern for legacy-heavy insurers.
That focus comes as insurers face mounting pressure on margins. According to mea, operating costs can account for up to 14 points of a carrier’s combined ratio and nearly half of a broker’s total expenses. The broader industry spends roughly €1.69 trillion ($2 trillion) annually on operating costs.
mea claims its “agentic AI” products can reduce operating costs by up to 60%, driving improvements in gross written premium (GWP) growth and underwriting margins.
Growing Global Footprint
Despite being only four years old, mea reports that its platform is now deployed across 21 countries. The company says its technology has processed more than €337.5 billion ($400 billion) in GWP to date.
Its client and partner roster includes major insurance and enterprise names such as AXIS, CNA, The Hartford, Markel, SCOR, Ardonagh, Lloyd’s of London, PPL, Accenture, DXC, ServiceNow, Velonetic, and Verisk.
For SEP, the investment aligns with its strategy of backing IP-rich enterprise software companies targeting complex, large-scale problems. Managing Partner Angus Conroy described mea as a differentiated, production-grade platform delivering measurable return on investment for global insurers.
A Different Growth Story in AI
In a funding environment where many AI startups are still pre-revenue and heavily venture-backed, mea’s trajectory stands out. The company has reached scale, global deployments, and sustained profitability before raising growth capital.
The €42.2 million investment does not represent a lifeline — but a lever. With profitability already established, mea now aims to expand its product capabilities and strengthen relationships with large insurance groups as the sector shifts from AI pilots to operational transformation.
If the insurance industry is indeed moving from experimentation to execution, mea is positioning itself as one of the companies built for that transition.
