AI-powered underwriter of complex supply chain risks Parsyl Inc, has secured more than £16m in Series C funding. Private equity firm The Lightsmith Group led the funding round. Parsyl is active in the US and London insurance markets through a managing general underwriter and its own managed syndicate at Lloyd’s.

Ben Hubbard, CEO and co-founder of Parsyl, said: “We are thrilled to have the support of The Lightsmith Group and our existing investors as we continue to grow and innovate. This funding further validates our vision and will enable us to strengthen our team and our technology, while we expand our underwriting appetite, product offerings and geographies to impact more critical supply chains.”