Fortress Innovation
Driven by our singular vision to be the industry leader in ultimate massive parallel computing solutions, Fortress Technologies launched CPU/GPU platforms offering user-friendly….
| Date | Investors | Amount | Round |
|---|---|---|---|
* | KRW6.0b | Early VC | |
| Total Funding | 000k | ||
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Fortress Innovation, established in 2013, operates as a specialized affiliate of Kyobo Life Insurance, focusing on delivering advanced computational solutions primarily for the financial and insurance sectors. The firm addresses the common issues of slow processing speeds and complexity found in traditional actuarial solutions. Based in Seoul, South Korea, with a research center in Daejeon, the company has positioned itself as Korea's sole provider of insurance actuarial solutions.
The company's core business revolves around high-performance computing, leveraging proprietary technology in massive parallel computing with GPUs. Its flagship product, "ExcelBooster," is an add-in for Microsoft Excel designed to dramatically accelerate complex simulations. The software automatically converts spreadsheet cell logic and VBA code into C++, Cuda C++, and Microsoft AMP C++. This conversion allows for simulations, such as those for derivative product pricing or IFRS accounting, to run on GPUs, achieving performance improvements reported to be hundreds of times faster than standard VBA execution. Another key solution, InnoLinc, is a parallel computing platform tailored for the insurance industry, featuring a visual, rule-based system that allows multiple users to work on program development and modification simultaneously.
Fortress Innovation's business model is centered on providing these software solutions and consulting services to clients, predominantly insurance agencies. By integrating with existing Excel environments, the company minimizes the learning curve and eliminates the need for clients to overhaul their current VBA-based processes. The company's revenue is generated through the sale and implementation of its software, which is continuously updated based on direct use and feedback from professionals within the insurance industry. The primary benefit for clients is a significant reduction in work time for complex calculations, which in turn accelerates decision-making processes.
Keywords: massive parallel computing, GPU computing, actuarial software, insurance technology, financial modeling, ExcelBooster, InnoLinc, VBA to C++ conversion, Cuda C++, simulation acceleration, risk management, IFRS 17, derivative pricing, computational finance, high-performance computing, Kyobo Life Insurance affiliate, financial simulation, data analysis, rule-based system, business process optimization