PLNAR raises $3.9m Series A to expand into insurance space

PLNAR, an augmented reality platform to create 3D models of rooms, has raised $3.9m in its Series A, as the company looks to bolster its insurance solutions.  

ManchesterStory Group led the investment, with participation also coming from The Venture Reality Fund and Colopl Next.

Texas-based PLNAR is a software company which creates 3D models of any room in real-time. The platform is currently available on the app store and will be launched for Androids later in the year.

Following the investment, the company is looking to continue its research and development efforts in computer vision automation, design and usability.

This capital injection will be used to support its expansion into the insurance claims and home improvement industries. The company will look to launch a virtual claims solution for flood, fire and water damage, enabling adjustors, inspectors and home owners to accelerate the process.

PLNAR’s platform already collects the necessary data required by insurance companies for their claim processes. By using the measurements, summary reports, photos and 3D models, insurers will be able to use the information to settle claims online.

Venture Reality Fund co-founder and general partner Marco DeMiroz said, “By incorporating cutting-edge AR tech to build a comprehensive claims solution, PLNAR has the vision and the product roadmap to transform the way customers and insurance carriers interact.

“What PLNAR is doing fits our thesis for enterprises adopting disruptive AR solutions to enhance customer satisfaction, to improve their operational efficiencies and profitability.”

Copyright © 2018 FinTech Global

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