Technosylva, a La Jolla, CA-based provider of catastrophic event simulation modeling, risk analysis, and operational response solutions, received a strategic growth investment from General Atlantic.
The amount of the deal was not disclosed. Financial terms of the transaction were not disclosed. As part of the transaction, Michael Bevan and Wilson Bowen will join the Technosylva board of directors.
Upon completion of the transaction, General Atlantic’s BeyondNetZero will join TA Associates, an investor in Technosylva since 2022.
The company intends to use the funds to continue to focus on the advancement of its solutions and operating capabilities to strengthen the resiliency and mitigation efforts of its customers.
Founded in 1997 and led by CEO Bryan Spear, Technosylva provides a platform of cloud-native, AI-driven software solutions getting access to real-time, predictive insights on developing environmental risks to meet the evolving needs of electric utility, insurance, financial services, and government agency customers.
Today, Technosylva’s platform is used by electric utilities, government agencies, insurers, and financial services firms worldwide to manage over 20,000 incidents a year, with nearly 1 billion simulations performed daily to strengthen critical decision-making.
BeyondNetZero’s investment follows a period of growth for Technosylva. Since TA’s initial investment in 2022, the company has focused on expanding and enhancing its capabilities, completing the acquisitions of Atmospheric Data Solutions (ADS), Heartland Software Solutions in Canada, and most recently, KatRisk, an innovator in global catastrophe risk modeling.
The company has offices in La Jolla, CA, León, Spain, and Calgary, Canada.
FinSMEs
22/11/2024