Utilant, a Buffalo, NY-based market provider of loss control inspection and survey management software for underwriting and risk management for P&C insurers, received an investment from Aquiline Technology Growth (ATG) as part of a Series A round.
The amount of the deal was not disclosed. As part of the investment, Michael Cichowski of ATG will join the Utilant board of directors.
The company intends to use the funds to accelerate global expansion and further strengthen its LossControl360 platform to leverage artificial intelligence and data analytics.
Founded in 2005 by Patrick Davis, CEO, Utilant provides LossControl360, a SaaS solution for insurers to efficiently survey and score risks for an efficient underwriting process across all lines of commercial and residential business.
The platform is used by insurers around the world, as well as by top inspection vendor survey companies across North America.