Previsico, a Loughborough, and London, UK-based provider of a platform predicting and preventing flood impacts, raised £1.75M in funding.
The round, which brought the total amount to $5.3M, was led by 24Haymarket, and Foresight Group.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Jonathan Jackson, CEO, Previsico provides a flood forecasting solution used by insurers, businesses and government to reduce their losses in case of flooding events. Underpinned by two decades of research at Loughborough University, the Flood Dashboard displays nowcasts and forecasts in an easy to view format, accessed from anywhere via every web browser.
The solution enables users to visualise how a flood situation evolves hourly across a 48-hour period. Government warnings for main river and coastal flooding are presented alongside Previsico’s forecasted outputs for surface water and ordinary water course flooding, providing users a holistic overview of multiple flood perils to support event response coordination. The platform provides users with the tools they need to prepare and respond to a flood event.
The company serves major corporations like Network Rail, National Grid, and The Guinness Partnership, as well as insurers Zurich, Liberty Specialty Markets, and Generali.
FinSMEs
08/10/2023