Adaptive Insurance, an Austin, TX-based climate resiliency company, raised $5M in funding.
The round was led by Congruent Ventures, with additional investments from Montauk Climate, Generation Space (US arm of Seraphim Space), and private funders.
The company intends to use the funds to accelerate the nationwide rollout of its innovative parametric insurance products, starting with its flagship product, GridProtect.
Led by CEO Mike Gulla, Adaptive Insurance is building an AI-driven platform that helps U.S. businesses create resilience against climate and weather-events, starting with its suite of parametric insurance products. GridProtect is a short-term power outage insurance product that uses parametric insurance – verified trigger events, agreed-upon payments, and speedy claims processing – to provide immediate financial relief for businesses impacted by short-duration power outages.
FinSMEs
25/02/2025