Nearmap to acquire property intelligence platform Betterview

Nearmap , specializing in location intelligence and aerial imagery, plans to buy Betterview, a property intelligence platform.

Founded in 2014, Betterview has raised $15.5 million from several investors, including Nationwide and EMC Insurance, with its most recent funding round occurring in January 2023.

Nearmap, which started in Australia in 2007 and expanded to the US in 2014, views this acquisition as a key part of its growth strategy to strengthen its position in imagery intelligence and to expand its services for the insurance sector.

Recently, there have been several acquisitions in the property analytics sector. In 2021, Guidewire acquired Hazardhub, while 2022 saw LexisNexis Risk Solutions purchasing Flyreel and Big Ticket acquiring Insurdata. Among other companies in this field, ZestyAI experienced no employee growth this year, whereas Arturo faced a 30% reduction in its workforce.

“Combining the offerings of two best-in-class providers will deliver greater impact for insurers. The acquisition of Betterview by Nearmap will increase access to premium imagery and cutting-edge, scalable property intelligence solutions for the insurance industry.” – Betterview co-founder and CEO David Lyman.