Previsico, a live flood alert InsurTech based in the UK, has announced the successful close of its Series A funding round, marking a significant step in its global growth ambitions.
The round saw participation from Connecticut Innovations (CI), the strategic venture capital arm of the State of Connecticut; BlueOrchard Finance Limited, an impact investment manager under the Schroders Group; and renewed support from Burnt Island Ventures and Foresight Capital, both early backers of the firm.
The company said the fresh capital will accelerate its strategic development, driving innovation in its forecasting platform, supporting further expansion across the UK and US, and enabling entry into emerging markets where climate risk adaptation technologies are increasingly in demand.
Previsico’s mission comes at a critical time, as pluvial flooding is projected to cause global losses of $850bn annually by 2050.
The firm’s technology is aimed at addressing the growing threat to both developed and emerging markets, where traditional flood insurance uptake remains low.
In 2023, the National Oceanic and Atmospheric Administration (NOAA) reported $7bn in flood-related damages in the US, while in the UK, 2024 marked the costliest year for flood losses with payouts exceeding £650m.
BlueOrchard’s involvement aligns with its strategy of supporting scalable, technology-driven companies that advance climate insurance access. Through its partnerships, the investment firm helps strengthen climate adaptation ecosystems, particularly in emerging markets that face severe protection gaps.
Previsico CEO Jonathan Jackson said, “We’re thrilled to have the support of our new investors at such a pivotal stage in Previsico’s journey. This round of investment marks an exciting milestone for us, enabling our continued growth and accelerating our mission to help communities and businesses become more resilient to the increasing threat of flooding.”
Connecticut Innovations managing director of investments Konstantine Drakonakis said, “We are pleased to invest in Previsico, which is starting to gain a global reputation not only as a live flood forecasting provider, but also as a partner in helping organisations and communities adapt to climate risks and manage the financial implications of extreme weather. We are behind the eight ball here in the US on flood forecasting at the local level and Previsico’s platform is well positioned for our markets.”
BlueOrchard investment director Richard Hardy said, “Part of our role in expanding climate insurance across emerging markets is to ensure these regions gain access to world-leading climate technologies. Previsico is an excellent example of such innovation and an exceptional addition to our portfolio. We look forward to working with Jonathan and his team to help extend their platform on a global scale.”
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