Reask raises $4.6 million

Risk data company Reask has closed a $4.6 million seed round co-led by Mastry Ventures and Collaborative Fund, with participation from Macdoch Ventures and existing pre-seed investor Tencent, alongside pre-seed investors SV Angel and Hawktail. The Australian startup raised $6.55 million to date.

Founded in 2018, Reask provides high-resolution weather risk analytics and forecasting to calculate the severity and frequency of extreme weather events.

With its latest funding, Reask will add more hazard coverage and grow its team internationally.

“The ability to accurately forecast and measure the behavior of tropical cyclones has always been extremely challenging, especially given their complex interaction with the climate and propensity to damage land-based observational equipment. Organizations need a clearer view on how extreme weather is changing, so they can adequately prepare for any impact to their physical assets, infrastructure, business models, and customers. Our goal is to bring this information more quickly and efficiently to people and industries so we can help those who need it most and before there is an urgent need for help.” – Jamie Rodney, CEO of Reask.

“Ballooning industry loss rates, most recently underscored by State Farm & Allstate’s complete withdrawal from new policy issuance across home and commercial lines in California, illustrate why new approaches to extreme weather risk management must be adopted. Reask’s team has spent years investing in their technology platform, which has now been validated by many of the world’s most sophisticated leaders in risk analysis. We’re excited to see the continued adoption of their product across the insurance and financial services industries and believe the company is well positioned to become the new standard.” – co-founder and general partner Sam Landman at Mastry Ventures.