FloodFlash raises $15 million

FloodFlash, “the parametric insurance technology company that pays catastrophic flood claims within 48 hours,” has raised $15 million in Series A funding led by Buoyant Ventures. Additional investors include Munich Re Ventures, Sony Financial Ventures/Global Brain, MS&AD Ventures, PropTech1, and others.

The investment comes three months after FloodFlash announced a new insurance capacity partnership with Munich Re.

The MGA currently offers commercial policies in the UK and it plans to use the funding to expand into other markets that may include the US, Germany, Australia, and Japan.

A FloodFlash sensor comes with each policy and it is installed by a professional. If the sensor detects flooding, the company is notified and the claims process begins.

“This investment is an endorsement of our parametric cover. The group of investors for the round couldn’t be better tailored to supporting our efforts in solving the issues around underinsurance in the face of climate change.” – FloodFlash CEO Adam Rimmer.