Ornikar raises € 100m ($ 120m) in Series C funding led by KKR

By on April 22, 2021 0

PARIS–(BUSINESS WIRE) – Ornikar, specialist in driver training and road awareness since 2013, today announces a ($ 120 million) Series C funding round led by global investment firm KKR, which invests primarily through its Next Generation Technology Growth Fund. Existing investors Idinvest, BPI, Elaia, Brighteye and H14 have also contributed to Ornikar’s latest fundraising which will allow the company to accelerate its mission to become a world leader in road safety.

In less than a decade, Ornikar has revolutionized the traditional driving school model to become the essential online training and training platform in France, with a growing presence in Spain. The Ornikar platform – which offers comprehensive driver training courses online and pairs students with independent driving instructors – has helped more than 1.5 million people learn the rules of the road.

In 2020, the company expanded into the French motor insurance market by 17 billion euros ($ 20 billion) with the launch of Ornikar Assurance, a product designed for the digital world with a very user experience. intuitive and services tailored to the needs of each driver.

Benjamin Gaignault, co-founder and CEO of Ornikar, mentionned: “We are very proud that KKR is joining our established investors in supporting our goal of becoming a global leader in road safety. We have proven the efficiency, durability and flexibility of the model we have created, in particular by showing that Ornikar can be replicated outside of France. Our ambitions are far-reaching and we aim to drive innovations that reinvent driver training and insurance. KKR is a premier investor and will be a major asset in accelerating our international deployment for training, auto insurance and other driver services.

The funding round comes after a successful year for Ornikar, which became a member of French Tech 120 in 2020. The company, led by Benjamin Gaignault and Flavien Le Rendu, added 420,000 new users last year, increasing by up to 30% per month during the global pandemic that has helped accelerate the uptake of online services.

Patrick Devine, director at KKR and member of the Next Generation Technology Growth investment team, mentionned: “Ornikar has done a great job creating a great experience for students and driving instructors with great online training courses and a well-designed marketplace. We are delighted to invest behind Benjamin, Flavien and their talented team as they expand internationally and accelerate their insurance offering following the successful launches of Onroad in Spain and Ornikar Assurance.

KKR’s Next Generation Technology Growth Strategy is dedicated to growth equity investment opportunities in the technology sector. Ornikar is KKR’s third growth investment in the tech startup ecosystem in France, after its investments in Ivalua and Fotolia. This is KKR’s sixth investment in France in the past twelve months.

Benoist Grossmann of Idinvest Partners and Yassine Soual of Bpifrance Large Venture added: “We have always been convinced of the relevance of the Ornikar model to meet the challenges of road safety education. We are happy to continue our support in this new phase, which not only validates the team’s objectives in recent years, but also provides the company with the means to become a benchmark international player in road safety. through education and insurance. “

Lauriane Requena, who heads KKR’s Next Generation Technology Growth investment strategy in France, concluded: “We are pleased to make our latest investment in the French technology ecosystem which benefits from a unique blend of qualified engineers, a strong network of successful entrepreneurs and a supportive public policy.

Today, the Ornikar platform prepares more than 35% of drivers for the Highway Code driving tests. Ornikar plans to continue its development both in France and in other countries under the Onroad brand, to develop new learning resources and tools for driving instructors and to expand its service offering for drivers.

About Ornikar

Specialist in driver training and road awareness since 2013, Ornikar’s ambition is to become a world leader in road safety thanks to its comprehensive approach combining educational training and automobile insurance. In less than a decade, the company led by Benjamin Gaignault and Flavien Le Rendu has revolutionized the traditional driving school model to become the essential online driver training and education platform in France, with more than 1, 5 million customers. With a strong growing presence in the Spanish market, Ornikar plans to continue its international development under the Onroad brand. Ornikar has been a member of French Tech 120 since 2020.

About KKR

KKR is a leading global investment firm providing alternative asset management, financial markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined approach to investing, employing world-class people and supporting the growth of its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer pension, life and reinsurance products under the leadership of the Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information about KKR & Co. Inc. (NYSE: KKR), please visit the KKR website at www.kkr.com and on Twitter @KKR_Co.