Previsico Secures Funding Boost to Enhance Live Flood Alert Services Across the US

Previsico, a leading InsurTech company specializing in live flood alerts, has successfully secured additional funding to fuel its expansion efforts, particularly in the United States. This investment round, spearheaded by Burnt Island Ventures, a venture capital firm focused on water innovation, has garnered significant participation from Foresight Capital Ventures and Previsico’s existing network of angel investors, as reported by InsurTech Insights.

Funding to Propel Expansion in the US

The newly acquired capital is set to accelerate Previsico’s growth strategy, with a pronounced focus on the U.S. market. Here, flood-related damages result in billions of dollars in losses annually. This funding round not only reinforces investor confidence in Previsico’s innovative technology but also underscores its mission to mitigate the impacts of flooding through real-time alert systems.

Advanced Flood Forecasting Solutions

Previsico offers state-of-the-art flood forecasting solutions that amalgamate real-time weather data, Internet of Things (IoT) devices, and advanced flood modeling. This technology is pivotal for:

• Insurers: Enhancing resilience and reducing losses.
• Public Sector Agencies: Addressing the increasing global challenge of surface water flooding.
• Businesses: Implementing proactive measures to safeguard their assets.

The company’s proprietary Flood Intel Platform delivers timely and accurate flood alerts to property owners and large asset holders, enabling them to take preventive actions effectively. Additionally, this technology transforms the underwriting process for flood insurance, providing benefits for both direct customers and insurance partners.

Strategic Partnerships for Growth

This funding round not only bolsters Previsico’s financial standing but also connects the company with a global network of professionals in the water industry through Burnt Island Ventures. The strategic alliance aims to enhance Previsico’s expansion strategies and introduce its predictive flood alert solutions to various industries and regions.

Leadership Insights

Jonathan Jackson, CEO of Previsico, expressed enthusiasm about the partnership, stating, “We are thrilled to have Burnt Island Ventures join us as an investor and board member. Their strong support of our vision will help drive Previsico’s continued success.” He emphasized the shared commitment to tackling climate change challenges and highlighted Burnt Island Ventures’ expertise in the water sector.

Christine E. Boyle, Partner at Burnt Island Ventures, added, “The Previsico Flood Intel Platform delivers accurate flood alerts to property owners and large asset holders at the right time, allowing them to take necessary action.” She noted the proven success of Previsico in the UK and expressed excitement for its upcoming U.S. expansion.

David Marock, Chairman of Previsico, welcomed the collaboration, saying, “We are delighted to have Burnt Island Ventures on board, joining an already strong group of investors. Their deep understanding of water-related challenges aligns perfectly with our mission.”

Addressing the Growing Threat of Flooding

As flooding remains the most frequent and costly natural hazard globally, Previsico’s next-generation flood forecasting solutions are critical in addressing this escalating threat. By providing real-time, data-driven insights, Previsico helps mitigate flood damage and enhances preparedness across various sectors.

For more information on the impact of climate change and innovative solutions in the InsurTech sector, visit Climate.gov.