Sensible Weather raises $12 million
Sensible Weather, a climate risk technology company, has raised $12 million in Series A funding. The round was led by Infinity Ventures with participation from Certares Ventures, Derive Ventures, and existing investors Wonder Ventures and Group 1001.
Founded in 2019, the California-based startup offers Weather Guarantee, a protection product available when booking travel reservations and ticketed attractions online. If a weather event, such as rain, is forecasted to occur during the covered experience, Sensible automatically sends a reimbursement.
Since its launch early this year, Sensible Weather has sold thousands of Weather Guarantees via its “growing roster of hospitality and outdoor recreation partners.”
One partner is Tentrr, an Airbnb-like startup for campsites. In select campsites, Tentrr campers can protect their outdoor experience by adding Sensible’s Rain Guarantee coverage to their trip.
“Embedded finance is a large and growing market, and Sensible has shown rapid traction in the space by combining proprietary climate analytics and fintech to create new value for consumers. In the same way extended warranties give consumers protection on goods they’ve purchased, Sensible’s novel Weather Guarantee service covers experiential purchases like travel reservations and event tickets with a new form of warranty protection.” – Jay Gantara, partner, Infinity Capital.
“With Weather Guarantee attach rates approaching 50% in early partner channels, we’re converting at about 5x higher than traditional travel insurance. We’re doubling down on our investments in this new embedded fintech service to accelerate our goals of driving ancillary revenue for partners and enhancing the in-destination experience for travelers. With climate increasingly impacting vacations and outdoor experiences, Sensible’s Weather Guarantees offers consumers peace of mind when booking reservations online by giving them the option to recoup their experiential losses when bad weather interferes with plans.” – Nick Cavanaugh, Ph.D., founder and CEO of Sensible Weather.