FutureProof, a San Diego, CA-based climate-smart P&C insurtech company, raised $6.5M in funding.
The round, which brings total capital raised to nearly $10m, was led by AXIS Digital Ventures with participation from Innovation Endeavors and MS&AD Ventures.
The company intends to use the funds to add top underwriting, portfolio risk management, and engineering talent.
Led by CEO Alisa Valderrama and Chief Insurance Officer Fid Norton, FutureProof provides a platform to make AI projections of asset-level losses from hurricane wind and flood to power insurance underwriting. The company will use its climate-smart insurance products to help close the coverage gap and motivate investment in climate adaptation.