Moody’s to acquire CAPE Analytics

Moody’s has agreed to acquire geospatial AI firm Cape Analytics .

Founded in 2014, CAPE has raised $75 million from investors, including Aquiline Technology Growth, Brewer Lane Ventures, Formation 8, HSCM Bermuda, Pivot Investment Partners, State Auto Labs, State Farm Ventures, Cincinnati Insurance, and The Hartford. Its customers include insurers such as The Hartford, Cypress, Mercury, Amica, Hippo, and American Integrity, all of which use its geospatial analytics to improve property risk assessment and underwriting processes.

The acquisition will integrate CAPE’s solutions into Moody’s Intelligent Risk Platform.

Financial terms were not disclosed.