CAPE Analytics, a provider of geospatial intelligence for property risk and valuation, has secured $44 million in Series C financing, led by Pivot Investment Partners.
Additional investors, Aquiline Technology Growth and HSCM Bermuda also joined the Series C round, with participation from existing investors, including Formation8 and Brewer Lane Ventures, as well as funds associated with State Farm Ventures, The Hartford, State Auto Labs Fund, and The Cincinnati Insurance Company.
Founded in 2014, CAPE Analytics now serves over 50 subscription customers across insurance and real estate markets, such as Hippo Insurance, Amica Insurance, and State Auto Insurance.
The funding is expected to allow CAPE Analytics to diversify its suite of data sources and partnerships, expand its coverage footprint in the US and Canada, and to grow its team of machine learning, data science, and risk experts.
“CAPE Analytics has built a unique and impactful property intelligence product that has brought tremendous value to insurance carriers and is now being adopted by companies in real estate, mortgage, and capital markets,” said Akbar Poonawala, Co-Founder of Pivot Investments.
“We are proud to lead this financing round in CAPE and look forward to working alongside their excellent team to bring innovative property insights to insurance and real estate-linked industries.”
Poonawala will be joining CAPE Analytics’ Board of Directors, taking up a position alongside existing board members Tom Hutton and Shirish Sathaye.
“We’re honored 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,” said Ryan Kottenstette, CEO of CAPE Analytics.
“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.”