We are delighted to report that Applied Systems has acquired portfolio company Cytora, a spinout from the University of Cambridge, who has developed an AI-powered solution for commercial insurance underwriting.
Tuesday 9 September – Applied Systems announced the acquisition of Cytora whose risk digitalisation platform will now become available to multiple more users globally. Cytora is a configurable platform that enables carriers, MGAs, and brokers to digitize their intake and streamline the full policy lifecycle – from submission to claims servicing, mid-term adjustments, endorsements, and renewals.
The team is really excited about their new home and the opportunities available to them in making insurance much more efficient and available to the uninsured.
Moray Wright, CEO of Parkwalk, said; “It’s great to see a UK deeptech firm actually delivering value and innovation through an LLM-powered platform which is enabling fast and scalable enterprise deployment without training, driving improvement of risk understanding, risk management and risk pricing across the insurance industry.”
The exit is also a great exemplar of the work done by our colleagues at Cambridge Enterprise in converting ideas to reality, innovating ecosystems and creating jobs and prosperity for UK plc. At Parkwalk, we look to back innovative university spinouts from lab to market, working alongside talented management teams, trusted co-investors, and market-leading IP – Cytora is a great example from our AI & DeepTech portfolio.
We are delighted to have closed our fifth positive realisation of 2025, delivering close to £60 million in returns to our investors so far this year. This achievement comes in spite of a number of macro-economic and political challenges and some write downs, underscoring the resilience of our portfolio and the continued value we strive to generate for our stakeholders.
For more information on Cytora, see their website.
