Series C funding will be used to accelerate product innovation, expand data sources, and grow the company’s industry-leading artificial intelligence team
Today, CAPE Analytics, the leading provider of geospatial intelligence for property risk and valuation, announced $44 million in Series C financing, led by Pivot Investment Partners. Additional investors, Aquiline Technology Growth and HSCM Bermuda also joined the Series C round, with across-the-board participation from existing investors, including Formation8 and Brewer Lane Ventures, as well as many funds associated with insurance carriers, including State Farm Ventures, The Hartford, State Auto Labs Fund, and The Cincinnati Insurance Company. The infusion of capital will be used to accelerate the creation of new property insights, powered by machine learning, for CAPE’s growing client base.
Since its founding in 2014, CAPE Analytics has used machine learning and computer vision to pioneer a new form of property information, built specifically for the organizations that finance, protect, and invest in our homes and businesses. The company now serves over 50 subscription customers across insurance and real estate markets, such as Hippo Insurance, Amica Insurance, and State Auto Insurance. The Series C funding will allow CAPE Analytics to diversify its suite of data sources and partnerships, expand its coverage footprint in the U.S., Canada, and beyond, and grow its team of machine learning, data science, and risk experts.
“CAPE Analytics has built a unique and impactful property intelligence product that has brought tremendous value to insurance carriers and is now being adopted by companies in real estate, mortgage, and capital markets,” said Akbar Poonawala, Co-Founder of Pivot Investments. “We are proud to lead this financing round in CAPE and look forward to working alongside their excellent team to bring innovative property insights to insurance and real estate-linked industries.”
Mr. Poonawala will be joining CAPE Analytics’ Board of Directors, joining existing board members Tom Hutton and Shirish Sathaye.
“We’re honored to have the support of Pivot Investment Partners, HSCM Bermuda, and Aquiline Technology Growth—in addition to our existing, stellar group of investors. Their backing is a testament to CAPE’s success thus far in creating a new category of property intelligence for the insurance and real estate industries,” said Ryan Kottenstette, CEO of CAPE Analytics. “I look forward to working with our world-class team to continue pioneering additional, high-impact property insights that help better inform our decisions about how to protect and invest in the built environment.”
For more such updates and perspectives around Digital Innovation, IoT, Data Infrastructure, AI & Cybsercurity, go to AI-Techpark.com.