Global catastrophe modeling software company, KatRisk, has received a significant strategic investment from global private equity firm, TA Associates, to accelerate innovation and growth.
KatRisk is a provider of simulation software designed to quantify risk from global weather extremes, such as floods, storm surges, hurricanes, hail, wildfires, and tornadoes.
The company’s solutions, including SpatialKat and SoloKat, are used by some of the largest insurance, reinsurance, and financial services companies around the world to assess potential catastrophe impacts.
Dag Lohmann, Chief Executive Officer of KatRisk, commented: “We couldn’t be more excited to work alongside TA to expand our product offerings and better serve our clients with additional resources. Our recent 5.0 release of SpatialKat covers Australia & New Zealand with TC wind, storm surge, inland flood and hail (US).
“We are also working to add more perils, such as wildfire & tornado, that we plan to release soon via hazard maps, APIs, our location-level loss product SoloKat, and our industry-leading SpatialKat platform. We are grateful to our clients for their continued collaboration as we begin the next chapter of our growth journey.”
Guy Morrow, President of KatRisk, said: “TA’s investment shows deep confidence in our solutions and further validates our mission to deliver exceptional value to clients on a daily basis. With TA’s support and significant experience scaling software companies, we look forward to meaningfully expanding and advancing our solutions to meet the evolving needs of our customers.”
Charles Ha, Senior Vice President of TA, added: “We are deeply impressed by KatRisk’s best-in-class catastrophe modeling software, and believe the Company is uniquely positioned to drive meaningful impact at scale. We look forward to partnering closely with Dag, Guy, Swami, Brandon and the entire global KatRisk team to support their platform enhancements.”
Ashu Agrawal, Managing Director at TA, concluded: “TA has a long history of partnering with founder-owned software companies and decades of sub-sector expertise in risk management and simulation modeling, particularly businesses focused on natural catastrophes and global climate change like our recent investment in Technosylva. We are excited by this opportunity to support KatRisk’s continued journey.”
