Tractable scored $25m in its Series C round as it eyes new markets

Tractable, which develops AI solutions for accident and disaster recovery, has collected $25m in its Series C round which was led by Georgian Partners.

Contributions to the round also came from previous Tractable investors Insight Partners and Ignition Partners. This investment puts the InsurTech’s total funding efforts to $55m.

With the capital injection, the startup is looking to move into new markets, extending out of the nine countries it currently operates in.

Founded in 2014, Tractable leverages AI-powered computer vision to appraise damage in car accidents and natural disasters. The technology is powered by millions of examples to enable accurate identification of damage and prediction of repair costs.

Georgian Partners principal Emily Walsh said, “Tractable’s sophisticated approach to computer vision applied to accident recovery is resonating with the largest players globally, who are using the platform to make real-time, data-driven decisions while dramatically improving the customer experience.

“We’re incredibly excited to partner with the Tractable team to help them move even faster on bringing the next wave of technological innovation to accident and disaster recovery across the world.”

The UK-based InsurTech previously raised $25m in a funding round back in 2018.

Earlier in the year, Trusona, a multi-factor authentication platform, collected $20m in a funding round led by Georgian Partners.

Copyright © 2020 FinTech Global

Enjoying the stories?

Subscribe to our weekly InsurTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.