Insurtech startup Tensorflight, has closed a $2 million round of funding as the company looks to scale its computer vision risk assessment service for commercial property insurers.
The round was led by ff Venture Capital, Hudson Structured Capital Management, Nephila, Hemi Ventures, and other investors.
Tensorflight uses geospatial imagery, building records, and machine learning algorithms to help underwriters better assess risks and understand portfolio exposures.
The company is run by former Google and Microsoft engineers, and can automatically assess a range of property attributes, such as building footprints, construction type, roof pitch and geometry, number of stories, and more.
“We are excited about continuing our journey of automating commercial property insurance,” said Robert Kozikowski, who co-founded the company along with Zbigniew Wojna.
“We will use the additional funding to expand the team with a head of sales in New York or New Jersey and engineering in Warsaw or New York.”
Adam Plotkin, Partner at ff Venture Capital, stated, “Tensorflight is a perfect illustration of our strategy to invest in companies that apply cutting-edge AI and machine learning models to solve specific, valuable problems in industry verticals.”
YOU MAY ALSO READ: Prudential Partners Insurtech Firm to Provide Inclusive Insurance Service
“They have designed and produced a solution that will significantly improve the speed and accuracy of property assessment for real-time pricing and underwriting for commercial property insurance.”
“Robert and Zbigniew have assembled a team of world-class computer vision experts, who are uniquely positioned to tackle these challenges for commercial property insurers,” said Vikas Singhal, Partner and CIO of Hudson Structured’s InsurTech investment strategy. “We’re incredibly excited to see their business grow for years to come.”