The funding helps the company’s valuation hit $1B. Here are the top-line bullets you need to know.
Tractable, an AI-enabled accident and disaster recovery company, has raised $60M in a Series D with participation from Insight Partners, and Georgian Partners.
How’s the company performing?
- United Kingdom-based Tractable offers AI for visual appraisal after accidents and disasters. The company has handled over 1M household auto accident claims and processed $2B a year in repair and purchases.
- Tractable recorded 600% sales growth in the last 2 years and works with 20 of the top 100 world auto insurers.
- The company’s customers include Ageas, Geico, Tokio Marine Nichido, Ageas, Mitsui Sumitomo, Sompo, and Covéa, among others.
Source: Tractable
Why does the market matter?
- The global insurtech market is projected to grow at a CAGR of 10.8% and reach a value of $10.1B by 2025, according to Mordor Intelligence.
- The insurtech sector is seeing significant growth in investment, raising a record $2.55B across 146 deals in Q1’21.
