DENVER, CO, Flyreel has closed a $10 million Series A financing led by IA Capital Group.
Flyreel, an Artificial Intelligence (AI) solution for residential and commercial property insurance, has closed a $10 million Series A financing. The company now serves 15 major insurance providers and has raised $18 million to-date.
The Series A financing was led by IA Capital Group, an independent investment firm with a two-decade track record of success in partnering with high-growth companies in Insurtech and Fintech, and a leading manager of strategic venture capital programs for the insurance industry. The round also featured participation from leading insurance software provider, Guidewire Software (NYSE: GWRE), and existing investors including Google's AI-focused venture fund, Gradient Ventures, as well as State Auto Labs and Donan Engineering.
Flyreel provides Total Property Understanding for underwriting, loss control, and claims. Flyreel's advanced AI assistant guides users through fully configurable workflows. As users scan their property with their smartphone camera, Flyreel's proprietary computer vision technology automatically documents critical property data like hazards, risks, features, materials, and more.
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