Groundspeed Announces $30M Series B

Groundspeed Analytics, an insurance technology company specializing in AI and data science solutions to the $800b global commercial P&C insurance industry, announced a $30m Series B funding round led by Oak HC/FT. The investment will be used to continue to expand products and reach as well as grow the 40-person data science and engineering team.

Founded in 2016, Groundspeed focuses on unlocking the value of unstructured information. Groundspeed Adaptive Data Pipeline™ enables its carrier, broker, and MGA clients to improve margins, identify underwriting profit pools, and enhance customer experience. Groundspeed’s automation and analytics platform helps eliminate 90% of administration expenses while improving underwriting and analytics efficiency, delivering 10-times the data with 99% accuracy.

“We are thrilled to partner with Oak HC/FT as we embark on our next phase of growth. Given Oak HC/FT’s deep expertise in InsurTech and extensive network of industry leaders, we are confident that this new association will help Groundspeed aggressively expand our products and reach to help brokers and carriers unlock the tremendous value trapped in their unstructured information.” – Co-CEO of Groundspeed, Jeff Mason.