Betterview, a San Francisco, CA-based AI property and building insight and workflow platform for insurance companies, closed a $4.5M Series A funding round.
The round, which brought total funding raised to date to $10M, was led by ManchesterStory, with participation from Nationwide Ventures, EMC Insurance, Maiden Re and Compound. In conjunction with the funding, Dave Miles, Managing Partner of ManchesterStory, and Brian Desmond, CMO of Guidewire Software, joined Betterview’s Board of Directors.
The company intends to use the funds to grow its team.
Founded in 2014 by technology and insurance entrepreneurs David Lyman and Dave Tobias, Betterview started off as a drone-based property inspection platform and service. In late 2017, the company started building a new risk management platform in response to customers who were looking for an effective way to get an overview of buildings and properties. In July of 2018, Betterview launched its risk management platform, which leverages machine learning, computer vision and geospatial data to deliver data, analysis and insights on commercial and residential properties throughout the United States.
Its property data is accessible both via API and UI.
The company’s risk scoring has been proven to be correlated to property losses so that carriers can disqualify properties that do not meet their standards, fast-track ones that exceed their standards, and manage risk around the ones that fall in between.