Arturo, a Chicago, IL and Ottawa, Canada-based AI-powered analytics provider of residential and commercial property characteristic data and predictive analysis, raised $8m in Series A funding.
The round was led by Crosslink Capital, with partipation from from IAG Firemark Ventures, the venture capital fund for IAG. In conjunction with the financing, David Silverman, Managing Partner from Crosslink Capital, was appointed to the board of directors. Scott Gunther from IAG Firemark Ventures will be joining the board as an observer.
The company intends to use the funds to expand its business in both North America and the Asia Pacific.
Led by John-Isaac Clark, CEO, Arturo combines property images with artificial intelligence to analyze and evaluate property risk at the pricing, underwriting, and renewal stages of the policy lifecycle. The company has the ability to provide structured data observations and predictions for commercial and residential properties using satellite, aerial, drone and ground-level imagery. After more than three years as a research and development component of American Family Insurance, in 2018, the company was spun out.