Tractable, a technology firm developing AI for accident and disaster recovery, has raised $25 million in its Series C investment round.
The round nearly doubles the total amount raised by Tractable and is expected to help the firm accelerate its expansion into new markets from the nine countries in which it currently operates
Tractable’s AI uses computer vision to appraise damage. Models are trained on millions of examples, allowing identification of damage and prediction of repair costs, while improving appraisal efficiency and customer experience.
Tractable’s AI is used today by companies including Ageas, Covéa, and Tokio Marine in order to analyse vehicle damage effectively and efficiently.
“Our mission at Tractable is to bring AI breakthroughs to real-world problems and by doing so, make a positive difference to people’s lives,” said Alex Dalyac, Chief Executive Officer and founder of Tractable.
“We’re achieving that every day, as our technology means people across the world are recovering their livelihoods more quickly after an accident.
“This new investment from Georgian Partners, who have a standout track record in investing in software companies, shows informed investors believe we will scale our success even further and reach new markets, new clients, and new areas to operate in.”
