One Concern, Inc., a Menlo Park, CA-based provider of a platform to model and simulate community resilience and response to earthquakes, floods and other natural disasters, received a $45m investment from Sompo Holdings, Inc.
The company intends to use the funds to continue to develop its core capabilities in AI-enabled resilience solutions and disaster-risk mitigation technologies.
Led by Ahmad Wani, CEO and Co-Founder, One Concern provides a SaaS solution that combines disaster science and machine learning for better decision making. With operations in the US and Japan, the company quantifies resilience from catastrophic perils, enabling leaders to measure, mitigate, and monetize risk of disasters.
Its seismic and flood technology, coupled with Sompo’s local knowledge, will now enable emergency management officials to understand their risk exposure to extreme flooding and powerful earthquakes.
The next phase of the companies’ partnership will expand the project to six or more cities in Japan and for promotion of resilience solutions to the private sector in Japan.