HSCM Bermuda invests in Cape Analytics
HSCM Bermuda is among the investors in a $44 million Series C capital raise by CAPE Analytics, the California-based provider of geospatial intelligence for property risk and valuation.
The US company said the financing round was led by Pivot Investment Partners.
It added that Aquiline Technology Growth and HSCM Bermuda also joined the Series C round, with across-the-board participation from existing investors, including Formation8 and Brewer Lane Ventures, as well as many funds associated with insurance carriers, including State Farm Ventures, The Hartford, State Auto Labs Fund, and The Cincinnati Insurance Company.
The company said the infusion of capital will be used to accelerate the creation of new property insights, powered by machine learning, for CAPE’s growing client base.
Since its founding in 2014, CAPE Analytics said it has used machine learning and computer vision to pioneer a new form of property information, built specifically for the organisations that finance, protect, and invest in homes and businesses.
The company said it now serves more than 50 subscription customers across insurance and real estate markets, such as Hippo Insurance, Amica Insurance, and State Auto Insurance.
It said the Series C funding will allow CAPE Analytics to diversify its suite of data sources and partnerships, expand its coverage footprint in the United States, Canada, and beyond, and grow its team of machine learning, data science, and risk experts.
Ryan Kottenstette, CEO of CAPE Analytics, said: "We're honoured to have the support of Pivot Investment Partners, HSCM Bermuda, and Aquiline Technology Growth – in addition to our existing, stellar group of investors.
“Their backing is a testament to CAPE's success thus far in creating a new category of property intelligence for the insurance and real estate industries.
"I look forward to working with our world-class team to continue pioneering additional, high-impact property insights that help better inform our decisions about how to protect and invest in the built environment."
HSCM Bermuda is the reinsurance and ILS investment management business arm of Hudson Structured Capital Management Ltd, the asset manager with a focus on the re/insurance and transportation sectors.
Need to
Know
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service