Technology

Qantev raises €30 million from Blossom Capital to continue building the world’s most advanced AI-driven claims platform for health and life insurers

Published

3 months ago

October 10, 2024

PARIS, Oct. 10, 2024 /PRNewswire/ — Qantev – the most advanced AI-powered platform transforming how health and life insurers manage claims, reduce costs and improve services – has raised €30 million in a new funding round led by Blossom Capital, with participation from existing investors Elaia, Omnes and RAISE Venture.

With this new capital, Qantev plans to focus on three key areas:

Enhancing the platform: Qantev will accelerate R&D efforts to expand its platform, adding advanced AI modules that further optimize claims processing and decision-making. The company will invest in cutting-edge technology to help insurers reduce operational costs and improve patient outcomes.Recruiting top talent: To maintain its leadership in the industry, Qantev will recruit top-tier AI and engineering talent globally, with a focus on building an exceptional team to drive its technology vision forward.Global expansion: As part of its strategic growth, Qantev will expand its footprint in key international markets, particularly in North America and Asia. This expansion will allow the company to tap into new customer segments and tailor its offerings to the specific needs of insurers in these regions.

Founded in 2019 by former AXA lead data scientist, CEO Tarik Dadi and ex-quantitative analyst and CTO Hadrien De March, Qantev’s AI-driven software brings automation and efficiency to an industry facing rising costs, chronic disease and ageing populations. Global medical costs alone are projected to see near double-digit (9.9%) increases by the end of the year and 58% of insurers are concerned these costs will rise further by 2027. At the same time, demand for health insurance, driven by ageing populations, COVID backlogs, a decline in public healthcare funding and an increase in the purchasing power of emerging countries, has skyrocketed. The sector is now on track to reach a value of $2.38tn by the end of 2024, making it one of the fastest-growing business lines of insurance worldwide.

Qantev’s suite of AI-powered solutions is solving these challenges for customers, including AXA, Generali and FWD, by automating the claims process from days down to only minutes. The platform uses historical claims data to understand patient journeys and behaviours in individual markets before helping insurers across these regions make faster, more accurate decisions. As a consequence, doctors and nurses can focus on caring for their patients when not interrupted to fill pre-authorisation requests; inefficiencies and bottlenecks in workflows can be quickly identified and solved; operational costs can be reduced by as much as €8 million a year; and the scalable nature of Qantev’s technology helps insurers cope with increasing volume of claims without sacrificing quality, access or affordability.

In this way, Qantev is embedding complex, AI-driven software into the business-critical operations of insurance companies, effectively reproducing the expertise medical professionals bring to assessing health claims.

Building on momentum

Today, Qantev powers the claims processes of customers in 12 countries from the US to Mexico, Asia and beyond. The company has teams in Paris, Hong Kong and the UK and has more than doubled its headcount over the past 12 months. This latest funding round takes the total raised by the firm to over €40 million.

Tarik Dadi, CEO and co-founder of Qantev said: “A perfect storm of increased costs, post-COVID backlogs, chronic diseases, an ageing population, and increased demand means healthcare insurers can no longer keep up with paperwork. The growth we have seen at Qantev over the past 12 months is not only a testament to the work our team has done in solving these challenges but also the need for a solution like ours. As an operator in the global health insurance sector, I witnessed and experienced the pain points our customers are feeling and we’re using decades of experience to make claims more efficient, accurate and beneficial for all. With Blossom Capital joining our already esteemed cap table of investors, we’re excited to continue expanding our global footprint and keep innovating.”

Ophelia Brown, Founder at Blossom Capital said: “Qantev’s laser focus on the soaring health and life insurance market, combined with its deep expertise in AI, insurance, and data analytics makes it best placed to solve the very real, and rising problems being seen across the healthcare industry. Insurers are crying out for technology that can both address the challenges they face and scale in line with their own ambitions. This is exactly what Qantev provides.”

About Qantev:
Qantev is the most advanced AI-powered platform transforming how health and life insurers manage claims, reduce costs and improve services. Founded in 2019 by CEO Tarik Dadi and CTO Hadrien de March, Qantev’s AI-driven software brings automation and efficiency to one of the fastest-growing insurance sectors in the world. Today, Qantev powers the claims processes of customers in 8+ countries from the US to Mexico, Asia and beyond and the company has raised over $40M in funding from investors including Blossom Capital and Elaia. https://www.qantev.com/

About Blossom Capital
Blossom Capital is Europe’s largest dedicated Series A fund, renowned for its high-conviction strategy and relentless belief and commitment to the region’s most visionary founders. It leverages local roots with global connections to deliver an undeniable advantage for founders across consumer internet, cybersecurity, developer tools and open source, enterprise SaaS, and marketplaces. Its investments include Checkout.com, MoonPay, Pigment, and Tines. Find out more at www.blossomcap.com

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SOURCE Qantev

Technology

TESSAN Showcased New Charging Products at CES 2025, Enhancing Its Role in Modern Life and Travel

Published

4 hours ago

January 11, 2025

LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — At CES 2025, TESSAN showcased its relentless pursuit of technological innovation and enhanced user experience, engaging with a diverse audience to reinforce its commitment to being a dependable companion in users’ lives and travels. The event was a vibrant platform for interaction, where TESSAN not only presented its latest advancements but also connected with media, social influencers, and attendees through various engaging activities.

The exhibition garnered substantial media attention, with TESSAN being interviewed by various outlets. In acknowledgment of its innovative contributions, TESSAN received an award from SlashGear, a leading technology media platform known for its in-depth reviews and news on tech, cars, gaming, and science since 2005. The event’s excitement was further amplified by social media influencers, who explored the exhibition and shared their experiences with their followers, significantly enhancing the reach and impact of TESSAN’s innovations.

A highlight of the event was the interactive “What’s Your Next Journey?” activity, which invited attendees to participate for a chance to win an exclusive poster of the American singer-songwriter Rachael Yamagata, who recently partnered with TESSAN to inspire travelers.

Central to the exhibition were TESSAN’s latest products that underscored the brand’s commitment to innovation and user-centric design. The Travel Adapters, with its lightweight, compact, and multifunctional design, was a standout. Designed for global use, it caters to frequent travelers, ensuring seamless connectivity across different countries. The 140W Universal Travel Adapter, in particular, captured significant attention as an essential tool for global connectivity.

The Charging Station was another focal point, offering multi-device charging capabilities, rapid charging technology, and safety features. Suitable for both home and office environments, it meets the needs of users with multiple devices. The 100W Charging Station, a 9-in-1 powerhouse, exemplifies this by charging multiple gadgets simultaneously at lightning speed, appealing to busy individuals and tech enthusiasts alike.

Additionally, the Smart EV Charger demonstrated TESSAN’s commitment to sustainable and efficient solutions. Compatible with various electric vehicle models, it provides a convenient and eco-friendly charging option for EV users.

TESSAN’s diverse product range embodies the brand’s vision and core values, aiming to be a reliable companion in both daily life and travel. By prioritizing simplicity and convenience, TESSAN designs products that eliminate complexity and meet modern efficiency needs. Innovation is key, with advanced technologies like GaN (Gallium Nitride) enhancing performance and compatibility. Sustainability is also central to TESSAN’s mission, as demonstrated by eco-friendly practices and partnerships with ClimatePartner and One Tree Planted. Notably, TESSAN has launched an initiative to plant 10,000 trees across the U.S. and beyond, reinforcing its commitment to environmental sustainability and climate action.

Beyond product innovation, TESSAN enhances its impact through strategic collaborations. A notable partnership with globe-acclaimed photographer and adventurer Mattias Klum underscores the brand’s reliability. Additionally, TESSAN has teamed up with Rachael Yamagata to launch a global initiative aimed at uncovering travelers’ stories and inspiring exploration of the unknown.

As TESSAN continues to innovate and expand its product offerings, it remains dedicated to meeting the evolving needs of users worldwide. The brand invites everyone to join in its journey of exploration and discovery, promising more high-quality products that enhance connectivity and enrich lives.

About TESSAN

TESSAN, a trusted partner in charging solutions, is committed to enriching experiences both at home and during travel. The brand offers a wide array of products, including multifunctional power strips, travel adapters, wall extenders, and smart home devices. Supported by a robust R&D and production team, TESSAN develops innovative socket products for users across the globe. With the trust of over 20 million users, TESSAN empowers their journeys from home to every destination, promoting environmentally conscious electricity usage.

For more information, visit www.tessan.com or the TESSAN Amazon store, and follow TESSAN on Facebook, Instagram, and YouTube.

CONTACT: Derien Lin, derien@tessan.com

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SOURCE TESSAN

Technology

Docking Drawer to Revolutionize Appliance Garage Safety at KBIS 2025

Published

5 hours ago

January 11, 2025

Docking Drawer, the leader in in-drawer outlet solutions, is set to showcase its newly configured Safety Interlock Outlets for appliance garages at the Kitchen & Bath Industry Show (KBIS) in Las Vegas this February 2025.

SAN RAMON, Calif., Jan. 11, 2025 /PRNewswire-PRWeb/ — Docking Drawer’s Unwavering Dedication to Safety

“At Docking Drawer, we’re not just creating products; we’re setting new standards for safety and functionality.”

When it comes to safety, no one in the industry matches the focus and innovation of Docking Drawer. Their Safety Interlock Outlets for appliance garages bring a unique, forward-thinking solution to an often-overlooked area in kitchen design. These safety outlets automatically de-energize an appliance garage power source when the cabinet door is closed, ensuring that appliances are safely powered off when contained inside the cabinet.

Docking Drawer is also the only company dedicated to creating in-cabinet electrical solutions that meet the strict code requirements of the Canadian marketplace. Their Safety Interlock Outlets are designed to make in-cabinet electricity compliant in Canada while offering consumers in all regions an additional layer of safety for in-cabinet power.

Advanced Limit Switch Technology

Docking Drawer’s Safety Interlock Outlets for appliance garages utilize an advanced Limit Switch system, designed to work seamlessly with power outlets concealed by a cabinet door. This intuitive feature detects when the cabinet door is closed, instantly cutting power to the connected outlet and all powered appliances.

Now Compatible with Any Appliance Garage Door

An updated Limit Switch feature now offers different switch options to accommodate all appliance garage door types, including traditional cabinet doors, pocket door setups, and more. The newly designed Limit Switch now offers two functions to choose from:

Power Off When Limit Switch is Depressed: This state is ideal for traditional cabinet doors, where closing the door depresses the switch to cut power safely.Power On When Limit Switch is Depressed: This state is perfect for pocket doors, where the door being pushed back upon opening activates the switch, turning the power on.

Customizable Connectivity

The flexibility of Docking Drawer’s solutions also allows for connecting multiple limit switches to a single safety outlet or vice versa, offering customization options to adapt to the unique demands of any project.

“At Docking Drawer, we’re not just creating products; we’re setting new standards for safety and functionality,” states Scott Dickey, founder of Docking Drawer. “Our Safety Interlock Outlets represent the culmination of our dedication to innovation and empowering homeowners and professionals with safer, more organized spaces—even beyond the kitchen and bathroom.”

Join Us at KBIS 2025

Don’t miss the opportunity to experience the future of kitchen safety. Visit Docking Drawer at KBIS 2025 in Las Vegas this February to see firsthand how their Safety Interlock Outlets are revolutionizing appliance garage safety.

About Docking Drawer:

Founded in 2014, Docking Drawer offers a full array of ETL Listed electrical solutions. From our core in-drawer outlets developed specifically for use inside the drawer to our family of safety interlock outlets which add peace of mind to in-cabinet electrical setups, our products are designed to create more organized, functional and safer spaces.

Media Contact

Paul Hostelley, Docking Drawer, 1 530-362-5055, paul@dockingdrawer.com, dockingdrawer.com

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SOURCE Docking Drawer

Technology

More than 85 Governments to Gather in Riyadh to Lead Global Action on Minerals at Fourth Future Minerals Forum

Published

6 hours ago

January 11, 2025

RIYADH, Saudi Arabia, Jan. 11, 2025 /PRNewswire/ — Over 85 governments from key mineral-producing and consumer nations, including 16 countries from the leading G20 economies, and 50 ministers and 13 vice ministers – have confirmed they will join the 2025 FMF Ministerial Roundtable on January 14, 2025.

The Ministerial Roundtable, a multi-stakeholder, government-led initiative, is the traditional opener of FMF, spurring international action to increase investment in mineral supply and build capacity in the Super Region of Africa, Western and Central Asia, and other supply regions. It is set to be the largest and most senior gathering of mineral resources officials in the world

Discussion will cover progress made over the past year on the three Ministerial Roundtable initiatives:

Development of an International Critical Minerals FrameworkEstablishment of Centers of Excellence to build capacity in sustainability (Morocco), talent development (South Africa), and technology innovation (Saudi Arabia).Advancements in Certification Systems to ensure responsible mineral sourcing.

His Excellency Khalid Al-Mudaifer, the Vice-Minister for Mining Affairs of Saudi Arabia’s Ministry of Industry and Mineral Resources, emphasizes that, “The meeting is an important step towards achieving sustainable development in the minerals sector globally. It is an ideal platform for delivering solutions, developing legislation on best practices in the field of sustainable mining, and exploring ways to invest in mining projects to achieve economic and social development in producing countries.”

Joining him are high-profile leaders, including ministers from supplier and financing like Brazil, South Africa, DRC, India, Egypt, Italy, Nigeria, Qatar, Pakistan, Kazakhstan, Uzbekistan, Malaysia, Thailand, Morocco, Indonesia, France, USA and the United Kingdom, discussing opportunities for global cooperation.

“This year, discussions will seek to enhance collaboration between governments, industry, and communities to drive more investment in minerals, and development through value addition in supplier countries. We want to support the pressing need for sustainable mining practices, resilient supply chains, and value-driven partnerships in the minerals industry.”

Importantly, the outcomes of the Ministerial Roundtable are not confined to the event itself but form an ongoing, year-round program. Regional Coordination Groups will continue to drive the implementation of key initiatives.

“FMF is emerging as the largest global hub for minerals collaboration and action – no other platform brings together government ministers and senior industry leaders at this scale.” Al-Mudaifer concluded.

SOURCE Future Minerals Forum