Amenity Analytics Raises $18M Series B
Amenity Analytics , an AI-enabled insights platform, has announced an $18m Series B round led by Starr and its CEO Hank Greenberg. The deal also includes a new investment from Allstate and participation from existing investors Intel Capital and State of Mind Ventures.
“Some of the most sophisticated minds on Wall Street already trust our technology to uncover insights that give their investment strategies an edge. The commitment from STARR, their legendary CEO Hank Greenberg, and a firm as well regarded as Allstate demonstrate the power of our platform in another important sector. Over the past year we’ve assembled a dynamic team who has delivered a product that is only scratching the surface of its capabilities. This latest round provides us with the resources to further grow our team and to push the boundaries of where we can apply our technology.” – Amenity Analytics CEO Nathaniel Storch.
Established in 2015, Amenity uses natural language processing (NLP) to help institutional investors, insurance companies, media organizations, and others to rapidly process and comprehend complex text documents and uncover real-time, actionable insights. Amenity can quickly identify key commentary and determine the critical indicators and statements that help executives make business decisions, drive company performance, and gauge sentiment among a given audience.
Specifically for insurance, the company can determine the impact on underwriting, claims and business development by creating an emerging risk model that provides up to date information on areas of exposure.
“We continually look for innovative capabilities that enhance our customers’ experience and improve our business operations. Amenity’s advanced NLP technology can help us do both by efficiently creating actionable insights from large volumes of text data.” – Allstate Strategic Ventures’ Managing Director Tarik Galijasevic.
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Established in 2018 as Drift, the service allows users to borrow local cars (for a max of 7 days) parked at the airport and is currently operating in six cities including Chicago, Dallas and Denver. Also included in the service is insurance by Allstate for up to $1 million in coverage and 24/7 roadside assistance.