Tractable raises $25 million in Series C
London-based Tractable which develops AI for accident and disaster recovery has announced a $25 million Series C investment led by Georgian Partners with participation from existing investors, including Insight Partners and Ignition Partners. The company has raised $55 million since its inception in 2014.
Tractable’s AI uses computer vision to appraise the damage. “Models are trained on millions of examples, allowing accurate identification of damage and prediction of repair costs, while improving appraisal efficiency and customer experience.”
Tractable’s AI is used by Ageas in the UK, Covéa in France, Tokio Marine in Japan and Talanx-Warta in Poland to analyze vehicle damage.
“Tractable’s sophisticated approach to computer vision applied to accident recovery is resonating with the largest players globally, who are using the platform to make real-time, data-driven decisions while dramatically improving the customer experience. We’re incredibly excited to partner with the Tractable team to help them move even faster on bringing the next wave of technological innovation to accident and disaster recovery across the world.” – Emily Walsh, Principal at Georgian Partners.
“ Tractable has achieved tremendous scale in the past year with a customer base across nine countries, a differentiated data asset, and the expansion of their team to over 100 employees across London, New York, and now Tokyo. We are excited to continue to invest in Tractable as the team brings its powerful AI technology to many more countries.” – Lonne Jaffe, Managing Director at Insight Partners and Tractable Board Director.
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