Floodbase Raises $12M in Series A funding

Floodbase

Floodbase, a New York-based climate adaptation technology company that provides data and analysis on flooding and flood risk, raised $12M in Series A funding.

The round was led by Lowercarbon Capital with participation from Collaborative Fund, Floating Point and Vidavo.

The company intends to use the funds to make parametric flood insurance policies available worldwide, protecting consumers and supporting climate change adaptation.

Led by CEO Bessie Schwarz, Floodbase is a climate adaptation technology company that provides precise, near real-time data and analysis on flooding and flood risk. Powered by 15 satellites, machine learning, and on-the-ground data, its technology provides data to insurance companies and governments to inform flood preparedness and recovery decisions. Floodbase’s combination of satellite imagery, historical data, and modeling can produce precise predictions of flood locations and severity to create new options for the previously-uninsured as well as near-real-time measurements of flooding events to inform parametric policy payouts.

FinSMEs

27/01/2023