Cape Analytics, a Mountain View, Calif.-based provider of geospatial intelligence for property risk and valuation, raised $44m in Series C financing.
The round was led by Pivot Investment Partners with participation from Aquiline Technology Growth and HSCM Bermuda and existing investors Formation8 and Brewer Lane Ventures, as well as many funds associated with insurance carriers, including State Farm Ventures, The Hartford, State Auto Labs Fund, and The Cincinnati Insurance Company. In conjunction with the funding, Akbar Poonawala, Co-Founder of Pivot Investments, will be joining Cape Analytics’ Board of Directors, joining existing board members Tom Hutton and Shirish Sathaye.
The company intends to use the funds to diversify its suite of data sources and partnerships, expand its coverage footprint in the U.S., Canada, and beyond, and grow its team of machine learning, data science, and risk experts.
Founded in 2014 and led by Ryan Kottenstette, CEO, Cape Analytics leverages machine learning and computer vision to provide instant property intelligence for buildings across the United States and Canada. It enables residential and commercial property stakeholders to access valuable property attributes instantly, with accuracy, detail and global scale. The company now serves over 50 subscription customers across insurance and real estate markets, such as Hippo Insurance, Amica Insurance, and State Auto Insurance.