Previsico, an InsurTech company specialising in live flood alerts, has secured additional funding to support its expansion, particularly in the United States.
The investment round was led by Burnt Island Ventures, a venture capital firm dedicated to water innovation, with participation from Foresight Capital Ventures and Previsico’s existing angel investor network, according to InsurTech Insights.
The fresh capital injection will accelerate Previsico’s growth strategy, with a strong focus on the US market, where flood-related damages cause billions of dollars in losses annually.
The funding underscores investor confidence in Previsico’s technology and its mission to mitigate the impact of flooding through real-time alert systems.
Previsico provides advanced flood forecasting solutions that integrate real-time weather data, IoT devices, and sophisticated flood modelling.
Its technology is designed to support insurers, public sector agencies, and businesses in enhancing resilience, reducing losses, and addressing the rising global challenge of surface water flooding.
The company’s Flood Intel Platform delivers accurate, timely flood alerts to property owners and large asset holders, enabling them to take preventive action.
The technology also transforms the underwriting process for flood insurance, benefiting both direct customers and insurance partners.
This funding round not only strengthens Previsico’s financial position but also connects the company with a global network of water industry professionals through Burnt Island Ventures. The strategic partnership aims to bolster Previsico’s expansion efforts and bring its predictive flood alert solutions to new industries and geographies.
Jonathan Jackson, CEO of Previsico, said, “We are thrilled to have Burnt Island Ventures join us as an investor and board member. Their strong support of our vision will help drive Previsico’s continued success.
“With a shared commitment to addressing the challenges of climate change, Burnt Island Ventures brings valuable expertise, particularly in the water sector and the US market, which will empower us to expand our efforts in predicting and preventing flood impacts across new industries and geographies.”
Christine E. Boyle, Partner, Burnt Island Ventures, said, “The Previsico Flood Intel Platform delivers accurate flood alerts to property owners and large asset holders, at the right time, so they can take action. Previsico completely flips the script on underwriting flood insurance for both direct customers and insurance channel partners, and it’s deeply exciting to be a part of it. With abundant proof points of success in the UK, we are excited to work with Previsico on their US expansion.”
David Marock, Chairman of Previsico, welcomed the new partnership, saying, “We are delighted to have Burnt Island Ventures on board, joining an already strong group of investors. Their deep understanding of water-related challenges and opportunities aligns perfectly with our mission, and we look forward to leveraging their expertise as we continue to grow.”
The investment round was supported by legal advisors from Mills & Reeve.
Flooding remains the most frequent and costly natural hazard worldwide. Previsico’s next-generation flood forecasting solution plays a critical role in addressing this growing threat by providing real-time, data-driven insights that help mitigate flood damage and enhance preparedness across various sectors.
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