GEOX, a Tel Aviv, Israel-based developer of an AI-powered platform for analyzing real estate risk from climate-related disasters, raised $19m in Series A funding.
The round was led by Flashpoint Venture Capital, with participation from Suretech Partnership, as well as investors Ariel Maislos and Noam Lanir. This funding brings the total investment in the company to $23m since its founding.
Founded in 2018 by CEO Itzik Lavi, CTO Eli Lavi, and Guy Attar. Itzik Lavi, GEOX provides technology that uses artificial intelligence to conduct 3D analysis of aerial imagery, enabling automated and highly accurate assessments of real estate properties. This advanced system helps to predict potential damage caused by natural disasters such as hurricanes, floods, and wildfires. The platform produces comprehensive, data-rich, 3D insights that include critical property details such as precise location, roof size, type, condition, slope, and more.
The company serves some of the largest and most respected insurance companies in the world. Leading global insurers such as MunichRe, Sompo, and dozens of other top-tier insurance companies use its technology to streamline their underwriting processes and improve risk assessments.
FinSMEs
27/09/2024