Guidewire buys Hyperexponential for $1.7B in cash

The deal, expected to close sometime next year, is to help bring AI agents to work alongside humans to underwrite, analyze, and price decisions. Insurance tech company Guidewire announced Tuesday the acquisition of the agentic underwriting insurance company Hyperexponential for $1.7 billion in cash. The deal, expected to close sometime next year, is to help bring AI agents to work alongside humans to underwrite, analyze, and price decisions. The deal is worth around $2 billion in total, with $400 million in additional capital reserved if certain revenue targets are hit. Backed by Andreessen Horowitz and Battery Ventures, Hyperexponential was founded in 2017 and has raised nearly $90 million to date, according to PitchBook. So this marks a significant return for investors.

The U.K.-based AI startup says nearly 600 insurers across 40 different countries use its software. Buy One Pass, Get a Second FreeCover more ground at TechCrunch’s ultimate founder bootcamp of the year by bringing your co-founder or partner for freeBook before the BOGO deal expires Every weekday and Sunday, you can get the best of TechCrunch’s coverage. TechCrunch Mobility is your destination for transportation news and insight. Startups are the core of TechCrunch, so get our best coverage delivered weekly. Provides movers and shakers with the info they need to start their day. By submitting your email, you agree