Cape Analytics, a provider of AI-powered geospatial property data, announced a significant investment by State Farm Ventures.
The company plans to use the new funds to accelerate the development of its solutions for property insurers leveraging geospatial analytics and other unique information sources.
Cape Analytics provides instant property intelligence for buildings across the United States. Cape Analytics enables insurers and other property stakeholders to access valuable property attributes at the time of underwriting, with the accuracy and detail that traditionally required an on-site inspection, but with the speed and coverage of property record pre-fill.
“We’ve been fortunate to build a broad base of support from the industry’s leading insurers, both as customers and as investors. We’re now privileged to have State Farm Ventures join this key group of supporters,” said Ryan Kottenstette, CEO and co-founder at Cape Analytics.
“State Farm has been paying close attention to the growing geospatial AI space and recognizes Cape Analytics as the leading and differentiated technology company in that area,” said Mike Remmes, Vice President of State Farm Ventures. As part of the financing, a representative from State Farm will join Cape Analytics’ newly formalized customer advisory council.
Image Credit: Cape Analytics