Jerusalem Venture Partners (JVP) has closed a $290 million single-asset continuation vehicle in partnership with TPG GP Solutions to propel Earnix’s AI revolution in global insurance. The transaction delivered an 8.7x return to early investors and positions Earnix, a developer of Dynamic AI software, as a transformative force in the insurance and financial services sectors.
Earnix’s cloud-native platform enables real-time decisioning in pricing, underwriting, and product personalization. With operations in over 35 countries and clients including AXA, Generali, Tokio Marine, and Munich Re, Earnix is redefining how insurers and banks operate in a data-driven world. The new funding will accelerate its expansion and deepen its technological edge.
“I am delighted to partner with TPG, one of the world’s leading investment firms, as they support us in building Earnix into the leading AI platform for the insurance and financial services industries,” said Dr. Erel Margalit, Founder and Executive Chairman of JVP and Chairman of Earnix.
“Once again, AI is changing vertical industries with some of the most advanced technology that we’ve seen to date. I am proud of the Earnix management in North America, Europe, Israel, and around the world as the company becomes a major international leader. As evidenced by Earnix’s predictive vertical AI, artificial intelligence broadly is delivering the ability to use and translate huge volumes of structured and unstructured data to drive transformational growth, improve customer experience, reduce costs, and ultimately, serve more people in our rapidly changing and dynamic world.”
Long Track Record of Success
JVP has a three-decade track record of building companies into international category leaders through the JVP Way, a repeatable approach to company-building that has led to 42 of the largest exits out of Israel and New York, such as CyberArk (NASDAQ: CYBER), where JVP held a 47% stake at IPO and was recently acquired by Palo Alto Networks (NASDAQ: PANW) for $25B, Cogent Communications’ (NASDAQ: CCOI) $3.5B sale, Qlik’s $3B sale, and many others.
Believing in the company potential, Margalit became chairman “and we put our opportunity fund to work to reposition the company. The early-stage fund invested and wanted to see liquidity. Now, with both early and later-stage funds holding 26% each, we’ve crossed the 50% threshold and are working toward a $7 billion market cap.”
JVP’s strategy of “invest and invest again” has helped scale companies over the past 15 years, even amid geopolitical challenges. Emphasizing JVP’s resilience, Margalit said that “it hasn’t been easy in the geopolitical situation here, but our companies, both Israeli and international, are doing better than expected. We have strong people here and around the world.”
JVP’s impact arm also supports early-stage ventures across Israel, nurturing innovation from the ground up.
The Future of Insurance
Earnix is redefining the insurance industry by delivering a cloud-native, AI-driven platform for real-time decisioning in pricing, underwriting, and product personalization across the insurance and banking industries, resulting in significantly reduced costs and increased revenue.
The company’s AI platform sits atop core insurance systems, integrating structured and unstructured data to empower underwriters and personalize offerings.
“Earnix is bringing vertical AI to insurance,” Margalit said. “Regulators need to follow what they’re doing. Static data doesn’t cut it anymore, especially for insurance. Insurance companies look at a person’s personal history, credit rating and more, but they need more context. AI can translate unstructured data into financial language, making it usable for decision-makers. It sounds simple, but in vertical industries, it takes time.”
Earnix has surpassed $100 million in revenue and maintains a global presence in more than 35 countries and across six continents and with 300 employees across Israel, London, New York, and Boston. While its development team is based in Israel, its London interface anchors its European operations.
Earnix has been adopted by over 100 of the largest tier-1 insurance companies in the world such as AXA, Assicurazioni Generali, Tokio Marine, Banco Santander, IAG, Toyota Financial Services, and Munich Re.
“We are excited to partner with JVP and TPG GP Solutions; their support validates our leadership in Dynamic AI for the insurance sector. This builds on Earnix's track record of successful customer deployments in 35 nations around the world and will accelerate adoption of AI-driven decisioning across the risk cycle for the banking and insurance industries,” said Earnix CEO Robin Gilthrope.
TPG GP Solutions leads the investment, joined by strategic LPs including Partners Group, HighVista Strategies, and Hollyport Capital.
With TPG GP Solutions as the lead investor and supported by several other global investors, the continuation vehicle enables JVP to retain and expand its ownership in Earnix, while supporting the company’s next stage in becoming a dominant force in the AI SaaS for the insurance and financial services industries.
According to a press release by the company, investors in JVP’s early fund were offered the opportunity to either rollover or realize returns, and many chose to roll including Partners Group, HighVista Strategies, Committed Advisors, Hollyport Capital, and others.
“JVP’s continuation vehicle investors join JVP’s growth Fund investors, such as Hamilton Lane and Lexington Partners, to collectively hold more than 50% of the company. The transaction delivered a gross return of 8.7x to early Fund investors, once again providing JVP’s LPs with substantial returns,” the release said.