Boundlss Raises $1.7 M AUD with help from Kerry Harmanis, founding director of Jubilee Mines
PERTH, WA, NOVEMBER 6, 2017 - The team at Boundlss is pleased to announce that they have raised a total of $1.7 M AUD to further develop their AI-Human Health Assistant and Conversational Platform for health & life insurers. The capital was raised as part of a Seed Round in September 2016 and a pre-Series A capital raise in March 2017.
Boundlss helps health & life insurers provide innovative, personalised, behaviour based insurance products to attract, engage & delight members. Their digital health platform uses biosensor data and artificial intelligence to deliver scalable health programs and customer conversations through a unique, human-AI conversational experience.
Jonah Cacioppe, CEO and founder of Boundlss said; “The funding will help us further develop our AI Health and Conversation Platform and expand our sales in SE Asia and the UK. The global health and life insurance industry is just at the beginning of a tremendous transformation, from being a be-grudged financial instrument to being a true health partner with members.”
Further, Jonah Cacioppe stated, “Insurance adoption across Asia is in its infancy. In the next few years, premiums across the APAC region will grow from a few hundred billion to over a trillion dollars, with some of the most innovative products and distributions strategies happening in China and SE Asia.”
Jonah Cacioppe added, “We think we can play a meaningful role in accelerating this transformation in partnership with some of the leading global and regional insurers. This investment helps us sprint towards that goal.”
Boundlss has previously worked with AXA Hong Kong (world’s 2nd largest insurer by members and Hong Kong’s largest life insurer), Great Eastern Life (Singapore & Malaysia’s largest life insurer), HBF (Australia’s 3rd largest health insurer) and Silver Chain (one of Australia's largest at-home care providers).
The funding is a significant step in presenting Australia as one of the world’s leading markets for insurance innovation, and in reshaping the established insurance industry model with insurtech products in APAC region.
Notable investors from Seed Round and Series A include Jubilee Mines founder Kerry Harmanis and Mark Jansen, Data & Analytics Leader at PwC Singapore. Mr. Harmanis sold Jubilee Mines to Xstrata in 2007 for $3.1 billion AUD. As part of the Seed round Ex-Director General of Department of Health in Western Australia, and current Chairman of Bethesda Hospital and WA Country Health Services, Dr. Neale Fong joined the board.
Boundlss is a Perth based insurtech start-up founded in 2016 by Jonah Cacioppe (CEO) and Mike Kruger (CTO), which aims to improve the lives of over 100 million by 2020. Our team includes 16 full-time staff and 10 part-time staff, in Hong Kong, Perth, Beijing, and Edinburgh. Our team and advisors have experience in artificial intelligence, health, coaching, design, and insurance.
Boundlss helps health & life insurers attract, reward & retain healthy members; and understand & improve member health. Boundlss’ AI health assistant and conversational platform help health & life insurers deliver highly engaging, scalable preventative health, sales and claims conversations.
For a press pack and images see our press section: www.boundlss.com/press
Marketing Coordinator at Boundlss
Phone: 0401 281 790