TNEDICCA, which provides location-based traffic crash intelligence for auto insurance, has netted $750,000 in capital funding.
The round was led by Pixel Perfect Ventures, with participation also coming from Grange Insurance. An additional contribution was supplied by an unnamed insurance organisation.
With these funds, the company will scale its crash data coverage and risk score implementations with auto insurance companies. Additionally, the company will be expanding its product development, account management, and sales teams to support the scaling of the platform and increase distribution.
TNEDICCA also hopes to leverage the funds to expand into additional markets.
The company collates traffic crash data and offers location-based crash intelligence to insurers through its cloud-based analytical platform. Clients can leverage the technology to access risk scores based on the area someone lives, or the routes they take on a journey.
Its services are available in 39 US states and serves eight auto insurance firms and is also available in the UK.
Pixel Perfect Ventures partner Raj Malik said, “The team at TNEDICCA has built an incredibly impressive proprietary platform that captures and enriches traffic accident data down to a specific address and cross street over much of the United States,”
“TNEDICCA’s co-founders Yiem Sunbhanich and Nizam Syed have been able to take a highly innovative and scientific approach using the newly available crash location data they have created to take auto insurance risk segmentation to a whole new level for the industry.”
As part of the deal, Malik will join the TNEDICCA board of directors.
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