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Betterview (San Francisco), an InsurTech provider of actionable property intelligence to property/casualty insurers, has announced the completion of a new round of funding from existing investors EMC Insurance, Guidewire Software, Nationwide, MaidenRE, and ManchesterStory. The parties to the funding declined to disclose the terms.
Brian Anderson, partner, Nationwide Ventures.
Betterview reports that the investment follows an exceptional 2022, during which the company achieved significant customer growth and nearly doubled revenue despite a difficult macroeconomic environment. Betterview also increased strategic partnerships with geospatial and property intelligence providers, including HazardHub (from Guidewire), e2Value, Canopy Weather, Redzone, Iceye, and JMI Reports, expanding the Betterview PartnerHub ecosystem to 37 companies. Betterview says it currently has 68 insurers using its platform.
“Having been investors since 2017, we continue to be impressed with how the company is pushing the boundaries of technology and innovation in the property intelligence and risk management space,” comments Brian Anderson, partner, Nationwide Ventures (Columbus, Ohio).
Roger Arnemann, General Manager, Analytics, Guidewire Software.
“We are excited about what Betterview has built and what it is developing in the near term, which gives us great confidence in this investment and our ongoing partnership,” adds Roger Arnemann, general manager, SVP, Analytics, Guidewire.
Betterview says the latest round of funding will help the company continue its high rate of growth, support its path to profitability in 2023, and provide customers with new and enhanced products and features. Recent enhancements reported by the vendor include launching specialized risk insights for event-specific perils and a CAT-Response System, empowering insurers’ rapid and proactive response to severe weather events.
Best-in-Class Experience
David Lyman, Co-Founder and CEO, Betterview.
“We are excited to have strong financial backing with favorable terms to continue growing rapidly and reaching profitability in 2023,” says David Lyman, co-founder and CEO, Betterview. “This investment helps us continue to improve our product and customer support functions as we deliver a best-in-class experience, empowering insurers to identify and manage real property risk.”
“Beyond this additional financial commitment, the investment aligns us tighter with our strategic partners in the round who share our mission to predict and prevent real property losses, improve operational efficiency for insurers, and build a better customer experience,” comments David Tobias, co-founder and COO, Betterview.