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Guidewire to buy UK underwriting startup Hyperexponential for $1.7B cash
TechCrunch says insurance software company Guidewire agreed Tuesday to acquire London-based Hyperexponential for $1.7 billion in cash, with up to $400 million more if revenue targets are met.
- New headline Was: “Guidewire buys Hyperexponential for $1.7B in cash”
- Our desk filed its story
Insurance software company Guidewire said Tuesday it had agreed to acquire U.K. underwriting startup Hyperexponential for $1.7 billion in cash, TechCrunch reported1.
TechCrunch said the companies intend the deal to put AI agents next to human staff for underwriting, analysis and pricing1. The publication put total potential consideration at about $2 billion, including up to $400 million more if specified revenue targets are met1. Closing is expected sometime next year1.
Hyperexponential was founded in 2017 and has raised nearly $90 million, TechCrunch said, citing PitchBook, with Andreessen Horowitz and Battery Ventures among backers1. The London-based company says nearly 600 insurers in 40 countries use its software1.
TechCrunch linked Guidewire’s own announcement of a definitive agreement1. That report did not detail how Guidewire would fund the cash payment, named customers, or regulatory conditions, and it did not independently confirm Hyperexponential’s user count1.
