Weather Analytics, a Washington, DC-based provider of weather and predictive risk software for the insurance industry, raised $17m in Series B funding.
Backers included global insurers Tokio Marine HCC and W. R. Berkley Corporation.
The company, which has raised $30m in total funding, intends to use the capital to accelerate scientific and technical innovation.
Led by Bill Pardue, Chairman & CEO, and Chris Skarinka, President & Chief Operating Officer, Weather Analytics provides weather and predictive risk software that aims to improve decision support in risk selection, pricing and policyholder services for insurance companies across the globe.
The company collects weather information which is then cleansed by a team of meteorologists to build predictive insights to improve decision-making processes in such activities as underwriting, actuarial sciences, and claims.