TLDR: JVP, in partnership with TPG GP Solutions, has closed a $290 million continuation vehicle to fuel Earnix’s growth in AI-powered solutions for the insurance and financial sectors, positioning the company for further global expansion and a potential Nasdaq debut.
Jerusalem Venture Partners (JVP) has announced the successful closure of a $290 million single-asset continuation vehicle, established in partnership with TPG GP Solutions, a unit of global alternative asset manager TPG. This significant financial injection is earmarked to accelerate the global expansion and technological advancement of Earnix, an Israeli firm specializing in Dynamic AI software for the insurance and financial services industries. The move also provided substantial liquidity to JVP’s early investors in Earnix.
TPG GP Solutions leads the investment in this new vehicle, securing a 30% stake, while JVP will maintain its majority ownership with a 54% stake in Earnix. Insight Partners will hold 14%, with the remaining over 20% owned by Earnix management. It is important to note that TPG GP will not be a direct investor in Earnix itself. The transaction proved highly lucrative for early investors, delivering an impressive 8.7x return on their initial investments.
Earnix is recognized as a category leader in Dynamic AI, offering a cloud-native platform that empowers real-time decision-making in critical areas such as pricing, underwriting, and product personalization across both the insurance and banking sectors. The company boasts a robust global footprint, operating in over 35 countries and serving more than 100 tier-1 insurance companies worldwide, including industry giants like AXA, Generali, Tokio Marine, Banco Santander, IAG, Toyota Financial Services, and Munich Re. Financially, Earnix is a profitable entity with annual revenues exceeding $100 million and holds the coveted “unicorn” status, valued at over $1 billion.
Dr. Erel Margalit, Founder and Executive Chairman of JVP and Chairman of Earnix, expressed his enthusiasm for the partnership, stating, “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.” He further emphasized the transformative power of artificial intelligence, adding, “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.” Margalit also indicated that the fresh capital provides “a lot more money to invest” for potential acquisitions and further strategic initiatives.
Robin Gilthrope, CEO of Earnix, echoed this sentiment, remarking, “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.”
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The new funding is expected to significantly accelerate Earnix’s expansion efforts and deepen its technological edge. The company recently acquired French generative AI firm Zelros in April, signaling its commitment to continuous innovation in the AI space. While the initial news snippet hinted at a Nasdaq debut, Dr. Margalit believes Earnix has substantial room for further growth before such an exit, indicating a strategic, long-term vision for the company’s trajectory.
