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HK-based InsurTech secures $14m Series A funding

Source: Asia Insurance Review | Dec 2020

Coherent, a provider of digital platforms to insurers, has raised U$14m in a Series A funding round led by global VC fund Cathay Innovation, with participation from Franklin Templeton. The funds would help the start-up expand its presence in Asia while also increasing customer reach.
Founded in Hong Kong, Coherent’s mission is to provide digital platforms and data intelligence engines to help insurers evolve their business, including accelerating product design and pricing as well as enabling digital sales to supplement traditional sales channels.
Backed with an experienced management team with decades of global insurance experience and over 100 engineers and actuaries, Coherent is on track to grow four times in revenue by the end of FY 2020, the company said.
Following the latest funding round, the company intends to add technology and actuarial talent at its current offices in Hong Kong, Singapore, Shanghai and Manila plus hire new teams in Japan, USA and Thailand. A 
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