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Floodbase Launches Parametric Flood Solution And Bags $ 12mn

Things To Know About Floodbase

Founded in 2015 and headquartered in New York, Floodbase is a climate adaptation technology company founded by two women from Yale and supported by Google. The company provides risk management and insurance for calamities like floods and all. Especially used by NGO’s and government, the firm aims to serve over 10 million customers in coming five years. Powered by 15 satellites, machine learning, and on-the-ground data, it serves better data to insurance companies.

The following funding round was initiated by Lowercarbon Capital with an active participation from Collaborative Fund, Floating Point and Vidavo as well. The firm will let insurer to offer residential and commercial policyholders protection against hurricane flood damage for faster recovery. Thus the rebranded firm is also known as Cloud to Street.

As per the views of Floodbase, Parametric flood insurance, it also eliminated it’s hurdle for implementing the data.

What Are The Views Of Leading Members Of The Firm Bessie Schwarz, CEO and Co-Founder of Floodbase, said, “The world needs innovative financial and insurance tools if we are to have any hope of adapting to climate change. We are proud to be the leading calculation agent for parametric flood insurance, and now add flood protection to expand the coverage of parametric hurricane policies as well. This technology will enable the expansion of flood insurance to every corner of the globe, and bridge a protection gap that cannot be closed without parametric insurance. It is an exciting milestone for our company that we are proud to mark with a new brand and successful Series A funding round.”

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