London-based insurtech AI startup Tractable, which is applying artificial intelligence to speed up accident and disaster recovery by using computer vision to perform visual damage appraisal instead of getting humans to do the job, has closed a $25 million Series C, led by Canadian investment fund Georgian Partners.Technology
Existing investors also participated, including Insight Partners and Ignition Partners. The round nearly doubles the 2014-founded startup’s total funding, taking it to $55M raised to date.
When TechCrunch spoke to Tractable’s co-founder and CEO Alexandre Dalyac, back in 2018, he said the company’s aim is to speed up insurance-related response times around events like car accidents and natural disasters by as much as 10x.
Two years on the startup isn’t breaking out any hard metrics — but says its product is used by a number of multinational insurance firms, including Ageas in the UK, France’s Covéa, Japan’s Tokio Marine and Polish insurer Talanx-Warta — to analyse vehicle damage “effectively and efficiently”.