Insurdata Raises $3M Seed Funding
Denver-based property data company Insurdata has announced a $3m seed round from a group of investors, led by Anthemis and Menlo Ventures. The investors are composed of both Venture Capitalists and Angels and also include: Alma Mundi Fund, Talis Capital, InsurTech Gateway, Ascend, Prototype Capital and the Baloise Group.
Established in 2017, the company (a team of ~15) enables re/insurers to generate high-resolution, risk-specific data globally in real-time at all points in the underwriting workflow. This includes geocode information, building attributes and first-floor elevation data.
“We are delighted to have secured the backing of a fantastic range of investors who fully understand the criticality of the service that Insurdata provides to the re/insurance market. Our work to date has exposed material deficiencies in the quality and scope of information which underwriters are reliant upon, which in turn have a detrimental effect on their ability to accurately price risk and manage portfolios effectively. Moving forward, we aim to capitalize on the fact that our Exposure Engine can be applied to any peril by working with re/insurers to introduce more refined data sets for a broad range of exposures, including flood, windstorm, earthquake, terrorism and cyber. We are also evolving the Insurdata Customer Portal to make access to high-resolution data as straightforward and speedy as possible.” – Insurdata CEO Jason Futers.
// Recall insurance-related rounds here.