Zesty.ai pulls in $33m for AI-driven property risk

Zesty.ai, a provider of property risk analytics solutions powered by artificial intelligence (AI), has raised $33m in conjunction with their Series B led by Centana Growth Partners.

The oversubscribed round also saw participation from current investors and Brex.

Zesty.ai provides insurers and real estate companies with access to precise intelligence about every property in North America. The company partners with about half of the top 50 property & casualty insurance carriers in the US to underwrite and rate homeowners and business insurance.

Many of the company climate risk products, such as its predictive AI wildfire risk model Z-FIRE, have seen widespread regulatory approval and commercial adoption across all states in the US by the likes of Amica, Aon, Berkshire Hathaway, Cincinnati Insurance and Farmers Insurance. Moreover, the California FAIR Plan and many others are making Zesty.ai models an important part of their risk management strategies.

Zesty.ai said it will use the funding to expand the breadth of its existing products within insurance and develop new products for the real estate market.

Ben Cukier, partner at Centana Growth Partners, said, ?Zesty.ai rapid customer growth and the regulatory momentum behind their models is a clear reflection of the return on investment that they deliver to their customers.

?Zesty.ai has a novel approach to looking at real estate through artificial intelligence and has forged a path for forward-thinking customers to stay ahead of risk. Were proud to support Zesty.ai as they continue to establish themselves as the market leader in AI-driven property risk and value analytics.p>

Zesty.ai?received $10m in venture debt from US spend management decacorn Brex earlier this year.

Copyright ? 2022 FinTech Global

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