Sensible Weather, a leading climate finance platform, has proudly announced the closing of a significant strategic investment. This innovative platform is committed to enhancing experiences for consumers in travel, event, and outdoor businesses, especially as the unpredictability of weather conditions continues to rise.
The latest round of funding was led by Amex Ventures. Notably, other key investors who participated include Sensible’s seed and series A lead investors, Wonder Ventures and Infinity Ventures, complemented by the addition of new investor Industry Ventures.
At its core, Sensible Weather offers a pioneering climate finance platform. It masterfully integrates cutting-edge weather data, financial tools, and risk management technologies. This unique combination enables the platform to deliver robust products and services which offset the impacts of disruptive weather, especially in sectors like travel, events, and the great outdoors.
A flagship product of Sensible, the Weather Guarantee, stands out in offering consumers enhanced confidence and security. This feature provides proactive reimbursements if their plans are affected by adverse weather. This embedded financial product, now available through numerous partner websites globally, aids businesses in counteracting the financial drawbacks of unpredictable weather, ensuring reduced cancellations and safeguarding revenues.
Contrasting the conventional travel protection schemes, Sensible’s model provides automated reimbursements to those consumers who opt for the Weather Guarantee, given that forecasted weather criteria are met. In the event of foreseen disruptive weather, Sensible takes the initiative, alerting consumers about available reimbursements, allowing them to continue enjoying their planned activities or travels.
Sensible Weather CEO and founder Nick Cavanaugh, PhD, remarked, “The success of the Weather Guarantee, with over 50,000 sold and attach rates up to 5x higher than travel insurance offerings, is a reflection of the growing need for travel, outdoor and event consumers to better protect themselves against disruptive weather.” Furthermore, he added, “The investment from Amex builds on our momentum and enables us to help more consumers enjoy their experiences, no matter the weather.”
Offering his perspective, Matt Sueoka, Global Head, Amex Ventures commented, “We are proud to support Sensible Weather in its efforts to provide novel solutions for consumers who love travel and outdoor experiences but face increasing challenges from unpredictable weather.”
In the past, Sensible Weather has successfully launched the Weather Guarantee in 2021 and has since supported numerous businesses worldwide in mitigating the challenges of erratic weather patterns.
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