Groundspeed Analytics, an Atlanta, GA- and Ann Arbor, MI-based insurance technology company, raised $30m in Series B funding.
The round was led by Oak HC/FT. Matt Streisfeld and Michael Heller of Oak HC/FT have joined Groundspeed’s Board of Directors in conjunction with the funding.
The company intends to use the funds to continue to expand products and reach as well as grow the 40-person data science and engineering team.
Founded in 2016 and led by Jeff Mason and Andrew Robinson, Groundspeed specializes in artificial intelligence (AI) and data science solutions to the $800 billion global commercial property and casualty insurance industry. The company focuses on solving the insurance industry’s data challenge – uncovering the value of unstructured information via its Groundspeed Adaptive Data Pipeline™, which enables carrier, broker, and MGA clients to improve margins, identify underwriting profit pools, and enhance customer experience.