Things To Know About Axle
Axle is a transportation /trucking/railroad based company headquartered in Knoxville. The privately held company holds specialty in Truckload transportation, Flatbed transportation, Supply Chain management, Intermodal transportation, Air shipments, Just in time shipment, Expedite services and Over dimension shipment.
The current investment of the company was led by Google’s AI-focused venture capital fund Gradient Ventures. An active participation was also seen from leading companies like Soma Capital, Contrary Capital, Rebel Fund, BLH Ventures, as well as angel investors which also had members onboard of team of Plaid and former executives from Cox Automotive as well.
This capital injection will enable Axle to hire more staff to meet new and existing demands for its services. The InsurTech is also looking to expand into new markets.
Axle had a major concern about the dependency of legacy systems within the sector of insurance, the usually followed technique of paper-based processes and lengthy duration phone calls with third parties, gives rise to high-risk for organizations, like rental car companies, lenders and gig services, who are struggling to accurately assess risk and make pre preparation based informed decisions at onboard.
To introduce a solution to it, Axle has launched an universal API for insurance data that allows customers to make appropriate decisions within seconds. Its platform allows users to connect their insurance account to trusted companies within seconds and redeem the right claims for them. Within the first year of its launch, Axle has grown its carrier network to hundreds of insurance carriers as a sign of trust and platform compatibility.
What Are The Views Of Leading Members Of The Firm On This –
Gradient Ventures partner Wen-wen Lam said, “Axle’s innovative approach to insurance and commitment to a personalised customer experience has already demonstrated early traction and validates their potential to make a significant impact in the market. We look forward to supporting the team and their mission to democratize access to insurance data.”