Insurtech Tensorflight Closes $2M Funding Round
Hemi Ventures invested in Tensorflight’s $2M new financing round, together with ff Venture Capital, Hudson Structured Capital Management, Nephila, and other investors. Tensorflight’s risk assessment service is the first to integrate different imagery sources of property data on-demand for commercial property insurers. In October 2017, Hemi Ventures led the seed round, with Amy Gu from Hemi joining the TensorFlight’s board of directors.
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, Chief Executive Officer of Tensorflight.
Zbigniew Wojna, Chief Research Officer at Tensorflight, stated in an interview, “As our lead investor, Hemi is very focused on the business side because we are the experts on the technology side. Hemi helps us to be more forward thinking when it comes to scaling our business.”
“In addition to an exceptionally strong team, we believe Tensorflight has developed a first-class product that can disrupt the property insurance space. They have used AI and computer vision to significantly improve the previous manual in-person property inspection process. Property insurance is a huge market and we are very excited to work with Tensorflight to bring much-needed automation to this space,” said Amy Gu, Managing Partner of Hemi Ventures.
Currently, Tensorflight has dozens of employees working in offices in Mountain View, London and Warsaw. Current clients of the company include four leading P&C insurers and reinsurers, and joining the new round are insurance-linked investment specialists Hudson Structured and Nephila Capital. To learn more about the company, visit Tensorflight.com.
About Tensorflight
Tensorflight specializes in satellite and street view imagery automated analysis for the insurance industry, powered by computer vision and artificial intelligence. For more information, visit Tensorflight.com.
About Hemi Ventures
Hemi Ventures is an early stage venture capital firm based in Silicon Valley, with satellite offices in New York, Beijing, and London. Hemi invests in seed and Series A stage startups in autonomous vehicles, A.I. applications, biotech, and other emerging technology sectors. ‘Hemi’ means ‘half’ in Greek. We serve as the complementary half to our founders, and partner with entrepreneurs whose cutting edge innovations unlock new frontiers for human potential. For more information, visit Hemi.vc.
