New York-based Tensorflight has closed its Series A funding round as it looks to bolster its standing in the property insurance data analytics market.
The round was led by QBE Ventures and also saw investment from new investors Tareyton Venture Partners, HSCM Bermuda and ff Venture Capital Poland. The total invested amount was undisclosed.
Founded in 2016, Tensorflight is an AI and imaging-based InsurTech that provides technology for the property insurance industry. This firm combines satellite, aerial and street-level imagery with a proprietary AI engine to help automate commercial property inspections.
According to the company, the benefits it delivers to the global insurance industry include the reduction of premium leakage, instant automated insurance policy quotes, reduction of in-person property inspection costs and order of magnitude increase of claims teams efficiency. Currently, Tensorflight has offices in London and Warsaw, Poland.
According to Tensorflight, it intends to use the newly raised capital to accelerate its penetration and product optimisation across the property insurance data analytics market.
Back in 2019, Tensorflight, collected $2m in a financing round.
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