Tractable, a London, UK and San Francisco, CA-based computer vision powered company focused on the insurance industry, raised $8M in Series A funding.
The round was led by Ignition Partners, with participation from Zetta Venture Partners, Andy Homer (former CEO Towergate, former CEO AXA UK), Scott Roza (Chief Business Officer Guidewire Software), Tony Emms (former Chief Claims Officer Zurich Insurance UK), Greg Gladwell (former CEO Crawford & Company UK and Ireland), and Stuart Bartlett (founder & CEO Vision, founder and CEO BlueGrassComms).
Founded in 2014 and led by Alex Dalyac, CEO, Tractable is a deep learning startup specializing in computer vision to solve specific, high impact problems for businesses. Its proprietary artificial intelligence algorithms, which can learn and perform visual tasks, like humans, currently focus on insurance, to produce expert review of auto claims at scale. Insurers can assess damage and settle claims through analyzing photos, allowing human experts to focus on more high-value work.
Tractable works with some of the largest insurers in the US and the UK such as Ageas, as well as technology providers to the collision repair industry, like Mitchell International.
Other appilications include medical imaging and preventative maintenance.