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Supercede has raised $22.0M across 3 funding rounds.
Key people at Supercede.
Supercede has raised $22.0M in total across 3 funding rounds.
Supercede is a platform that transforms complex reinsurance data into effective deal-making, enabling superior outcomes through smarter data management.
Key people at Supercede.
Supercede has raised $22.0M across 3 funding rounds. Most recently, it raised $15.0M Series A in June 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 27, 2024 | $15M Series A | Alven | — | Announced |
| Sep 1, 2021 | $4M Seed | — | Emma Steele, Banana Capital, Outrun Ventures, Rianta Capital, TrueSight Ventures, Will Brooks | Announced |
| Sep 1, 2020 | $3M Seed | — | Balderton Capital, Bessemer Venture Partners, Episode 1 Ventures, Hercules Capital, Somdip DEY | Announced |
# High-Level Overview
Supercede is a reinsurtech platform that digitizes and automates the reinsurance deal-making process.[1][2] Founded in 2019 and formerly known as Riskbook, the company has raised $20M and operates as an e-trading and ecosystem platform designed to streamline how cedents, brokers, and reinsurers collaborate across the reinsurance value chain.[1][3]
The platform solves a fundamental inefficiency in reinsurance: the industry's reliance on manual processes, spreadsheets, and fragmented data sharing. Supercede addresses this by automating submission pack creation and validation, enabling secure data sharing between market participants, and providing reinsurers with tools to search and filter risks matching their appetite.[2][4] The company serves over 140 firms on its platform and has facilitated nearly 50 risk placements to date, positioning itself as the first purpose-built e-trading platform specifically for reinsurance.[2]
# Origin Story
Supercede emerged from the frustration of industry insiders who recognized the magnitude of reinsurance's operational complexity.[4] The founders—including CEO Jerad Leigh—drew on their own reinsurance careers to understand pain points firsthand.[3] Rather than attempting to solve these challenges alone, they engaged industry member associations, ran hackathons and testing events, and collaborated closely with outwards reinsurance teams, brokers, and underwriters to design scalable solutions.[4]
The company was incorporated in November 2016 under the name Riskbook Ltd before rebranding to Supercede Technology Ltd in February 2021.[6] A pivotal moment came when Supercede joined Lloyd's Lab Accelerator (Cohort 6, 2021), where the company gained access to Lloyd's clients and refined its analytics product for outwards reinsurance through mentorship and syndicate engagement.[3]
# Core Differentiators
# Role in the Broader Tech Landscape
Supercede operates at the intersection of two powerful trends: digital transformation in traditional finance and the modernization of legacy insurance infrastructure. The reinsurance market has historically lagged in digitization compared to other financial sectors, creating an outsized opportunity for purpose-built solutions.
The timing is critical. Reinsurance faces mounting pressure from climate-related losses, increasing data complexity, and the need for faster deal cycles. Supercede's platform directly addresses these pressures by reducing friction in deal placement and improving data quality—both essential as the industry grapples with larger, more complex risk portfolios. By establishing itself as the neutral infrastructure layer for reinsurance deal-making, Supercede influences how the entire ecosystem operates, similar to how trading platforms have transformed other financial markets.
The company's growth trajectory—$20M raised, 140+ firms on platform, Lloyd's Lab validation—signals that the market recognizes this need. As reinsurance becomes increasingly data-intensive and global, platforms that can aggregate and standardize information across fragmented participants gain network effects and become difficult to displace.
# Quick Take & Future Outlook
Supercede is well-positioned to become the operating system for reinsurance deal-making, but success depends on deepening adoption across all three market segments and expanding beyond placement into adjacent workflows like claims management and portfolio analytics.[1]
The company's future will likely be shaped by three factors: (1) whether it can achieve critical mass on its platform to create genuine network effects, (2) how it navigates the tension between remaining vendor-neutral while building proprietary analytics, and (3) whether larger insurance tech consolidators or reinsurance incumbents attempt to replicate or acquire its capabilities.
If Supercede executes on its vision of automating reinsurance's "data armageddon,"[4] it could fundamentally reshape how the $70+ billion reinsurance market operates—shifting it from email and spreadsheet-driven processes to real-time, data-driven deal-making. That transformation would ripple across the entire insurance ecosystem, making Supercede not just a vendor, but infrastructure.
Supercede has raised $22.0M in total across 3 funding rounds.
Supercede's investors include Alven, Emma Steele, Banana Capital, Outrun Ventures, Rianta Capital, TrueSight Ventures, Will Brooks, Balderton Capital, Bessemer Venture Partners, Episode 1 Ventures, Hercules Capital, Somdip Dey.
