Sixfold, a company based in NYC that uses AI to help underwriters analyze risks, has secured $15M in Series A funding.

The funding round was led by Salesforce Ventures, with support from Scale Venture Partners, Bessemer Venture Partners, and Crystal Venture Partners.

The new funds will be used to expand Sixfold’s team of AI and machine learning engineers, improve their product, and speed up research and development.

CEO Alex Schmelkin leads Sixfold, which offers an AI platform designed for insurance underwriting. This platform simplifies the underwriting process, allowing underwriters to focus more on decision-making. It also integrates with partners like EXL and Guidewire.

In its first year, Sixfold has gained customers including AXIS Capital, Zurich Insurance Group, Generali Global Corporate & Commercial, and Mosaic Insurance. The company has also grown its partner network, becoming a Guidewire Insurtech Vanguard.