Previsico secures additional funding to drive US expansion

Previsico, the actionable flood warning insurtech, has secured further funding, led by a new investor, Burnt Island Ventures, a venture capital firm specialising in water innovation, along with Foresight Capital Ventures and its existing angel investor network.

The company says that it will use the additional funding to support and accelerate overall growth by focusing on expanding its footprint in the US.

The region was selected due to its flood-related hazards, which cause billions of dollars in damage annually.

Jonathan Jackson, Chief Executive Officer, Previsico, commented, “We are thrilled to have Burnt Island Ventures join us as an investor and board member. Their strong support of our vision will help drive Previsico’s continued success.

“With a shared commitment to addressing the challenges of climate change, Burnt Island Ventures brings valuable expertise, particularly in the water sector and the US market, which will empower us to expand our efforts in predicting and preventing flood impacts across new industries and geographies.”

Christine E. Boyle, Partner, Burnt Island Ventures, added, “The Previsico Flood Intel Platform delivers accurate flood alerts to property owners and large assetholders, at the right time, so they can take action. Previsico completely flips the script on underwriting flood insurance for both direct customers and insurance channel partners, and it’s deeply exciting to be a part of it. With abundant proof points of success in the UK, we are excited to work with Previsico on their US expansion.”

David Marock, Chairman of Previsico, welcomed the new partnership, said, “We are delighted to have Burnt Island Ventures on board, joining an already strong group of investors. Their deep understanding of water-related challenges and opportunities aligns perfectly with our mission, and we look forward to leveraging their expertise as we continue to grow.”

The legal team at Mills & Reeve advised Previsico on this investment round. The insuretech’s live flood forecasting solution integrates real-time weather data, IoT devices, and advanced flood modelling to address surface water flooding. It’s technology supports insurers, public sector agencies, and businesses in mitigating flood impacts, enhancing resilience, and reducing losses

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