CAPE Analytics, a supplier of geospatial intelligence for property danger and valuation, has secured $44 million in Sequence C financing, led by Pivot Funding Companions.
Extra buyers, Aquiline Expertise Progress and HSCM Bermuda additionally joined the Sequence C spherical, with participation from current buyers, together with Formation8 and Brewer Lane Ventures, in addition to funds related to State Farm Ventures, The Hartford, State Auto Labs Fund, and The Cincinnati Insurance coverage Firm.
Based in 2014, CAPE Analytics now serves over 50 subscription clients throughout insurance coverage and actual property markets, resembling Hippo Insurance coverage, Amica Insurance coverage, and State Auto Insurance coverage.
The funding is predicted to permit CAPE Analytics to diversify its suite of information sources and partnerships, increase its protection footprint within the US and Canada, and to develop its staff of machine studying, knowledge science, and danger consultants.
“CAPE Analytics has constructed a novel and impactful property intelligence product that has introduced super worth to insurance coverage carriers and is now being adopted by firms in actual property, mortgage, and capital markets,” stated Akbar Poonawala, Co-Founding father of Pivot Investments.
“We’re proud to steer this financing spherical in CAPE and look ahead to working alongside their wonderful staff to deliver modern property insights to insurance coverage and actual estate-linked industries.”
Poonawala will probably be becoming a member of CAPE Analytics’ Board of Administrators, taking on a place alongside current board members Tom Hutton and Shirish Sathaye.
“We’re honored to have the help of Pivot Funding Companions, HSCM Bermuda, and Aquiline Expertise Progress—along with our current, stellar group of buyers. Their backing is a testomony to CAPE’s success to date in creating a brand new class of property intelligence for the insurance coverage and actual property industries,” stated Ryan Kottenstette, CEO of CAPE Analytics.
“I look ahead to working with our world-class staff to proceed pioneering further, high-impact property insights that assist higher inform our choices about the way to shield and spend money on the constructed surroundings.”