Carpe Data, a Santa Barbara, CA-based provider of data products to the insurance industry, raised $6.6m in Series A funding.
The round was led by Aquiline Technology Growth (ATG), with participation from existing investors. As part of the investment, Max Chee of ATG will join Carpe Data’s Board of Directors.
The company intends to use the funds to bring its suite of predictive data products and tools to more insurers as well as broaden and accelerate new product development.
Led by Chief Executive Officer Max Drucker, Carpe Data provides predictive scoring and data products to P&C and life insurance companies. Leveraging the social web, online content, email intelligence, connected devices, and other forms of advanced and alternative data, the company’s products enable insurers to predict risk and innovate with new products to meet changing customer habits.
The Series A financing follows Carpe Data’s company spin-off of Social Intelligence. The company relaunched in October 2016 to focus solely on the insurance data market.