Reask, a Sydney, Australia-based risk data company, raised $4.6M in Seed funding.
The round, which brought the total amount to date to $6.55M, was co-led by Mastry Ventures and Collaborative Fund, with participation from Macdoch Ventures and existing pre-seed investors Tencent, and SV Angeland Hawktail.
The company intends to use the funds to add more hazard coverage and grow its team internationally.
Led by Jamie Rodney, CEO, Reask is a science and technology company applying data science to natural hazard modeling. It provides high-resolution weather risk analytics and forecasting to calculate the severity and frequency of extreme weather events on earth, anywhere, anytime. By applying AI across multiple sources of climate data, Reask delivers proprietary weather modeling algorithms that learn climate physics to offer dynamic forward-looking representations of atmospheric risk. This approach provides insights and intelligence to insurers and asset managers, which need more accurate weather catastrophe forecasting but are limited to unreliable and inadequate methods based on static historical statistics.
Early adopters include AXA and Swiss Re as well as a Big 4 accounting firm.
FinSMEs
15/06/2023