Kespry Secures $33M Series C to Develop International Business
Aerial Intelligence solution provider, Kespry, announced it has raised $33 million in a Series C funding round led by G2VP with participation from Shell Technology Ventures, Cisco Investments, and ABB Ventures; to name a few . The funding will be used to “fuel even more innovation through investment in R&D, sales and marketing”, according to the company’s CEO George Mathew. The proceeds will also fund expansion into new vertical industrial markets, such as the energy utility sector, and further develop Kespry’s international business.
The Kespry platform for drone data capture and analytics uses AI and machine learning to deliver new insights and accelerate operations in industries such as aggregates, mining, construction, and insurance. For example, the use of Kespry’s roof inspection solution in the aftermath of hurricanes Harvey and Irma to inspect roof damage in Texas and Florida enabled claims adjusters to inspect houses an order of magnitude faster and safer than before they used drones.
Bottom Line: Kespry has now raised a total of $61M in venture funding. The company closed its $12.3m Series A round in October 2014 and a $16m Series B round in June 2016.
Recall 2017 insurance-related investments here.