Zesty.ai raises $33 million to extend climate risk technology to new industries

Zesty.aia provider of AI-powered real estate risk analytics solutions, today announced a $33 million fundraising round in its Series B led by Centana Growth Partnersaccording to a press release shared with FinLedger.

The company says the capital will be used to expand the expansion of its real estate and weather risk protection products, to expand its go-to-market movement, and to create real estate solutions designed for managing mortgages, properties and actives.

It added that these segments are a “natural extension” of its core mission in insurance and leverage its existing AI-based climate risk assessment technology.

Zesty.ai says the funding marks continued momentum, claiming revenue growth of more than 200% over the past year, and attributed the acceleration to climate- and pandemic-fueled digital transformation in the industry. property and casualty insurance of $2.5 trillion. He also said the round was a mix of debt and equity and included participation from existing investors and fintech player Brex.

Zesty.ai CEO and co-founder Attila Toth noted that the capital will enable the company to focus on changing the real estate landscape by protecting communities with the help of AI.

“Real estate is the world’s largest store of wealth with over $300 trillion in global assets, but unfortunately the world’s understanding of value and risk in real estate is based on outdated inspections and decades-old risk maps,” Toth said.

It also noted that it partners with half of the top 50 P&C insurers, with named partners including Amica, aon, Berkshire Hathaway and Farmers insurance.

“Zesty.ai has a new approach to real estate through artificial intelligence and has paved the way for forward-thinking clients to stay ahead of risk,” said Ben Cukier, partner at Centana Growth Partners. , in the press release.

In other recent proptech news, Class Valuation yesterday announced the completion of the verification process for Freddie Mac’s new ACE+PDR solution. Fundrise has also launched a $1 billion investment fund with investments starting at $10.

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