Sensible Weather, a Los Angeles, CA-based climate risk technology company, raised $12M in Series A funding.
The round was led by Infinity Ventures with participation from Certares Ventures, Derive Ventures, and Wonder Ventures and Group1001.
The company intends to use the funds to grow its deep pool of engineering and scientific talent, accelerate development of its proprietary climate data and risk analytics platform, and expand its Weather Guarantee offering into international markets.
Led by CEO Nick Cavanaugh, Sensible Weather is a climate risk technology company that is de-risking weather for travelers and travel partners. Since its launch early this year, Sensible has sold thousands of Weather Guarantees via its roster of hospitality and outdoor recreation partners. Consumers purchase Weather Guarantee protection when booking travel reservations and ticketed attractions online and if a weather event, such as rain, is forecasted to occur during the covered experience, Sensible automatically sends a reimbursement. Guarantee payments are processed immediately, based on the number of hours the experience is negatively impacted by weather.
As a platform business, Weather Guarantee is the first of several products being developed on the company’s climate engine, a high-performance data, analytics and risk assessment platform, to address the larger climate insurance market. Each of Sensible’s constituent components are built to exacting SaaS standards and are meant to be use-case agnostic, enabling the company to cater to both consumers and businesses across a wide range of industries impacted by climate.
FinSMEs
05/05/2022