AI Visual Survey startup Yembo secured $8.5 Million

Yembo, a California-based Artificial Intelligence enabled visual survey company, has now completed an $8.5 million in Series A funding round.

Yembo is founded by Siddharth (Sid) Mohan and Zach Rattner in the year 2016. It is an Artificial Intelligence enabled visual survey company that combines advanced deep learning, Robotic algorithm, 3D computer vision with a scalable architecture.

The platform utilized machine learning and predictive modeling to improve the surveying process by accurately defining rooms, appliances, furniture, structures, and some other relevant content as well as their volume and dimensions.

Chris Barrow, General Partner with Imagen Capital Partners, said, "Yembo's technology offerings are well-timed given the ever-increasing demand for desk adjusting solutions that extend the reach of the insurance carrier to the policyholder. We believe the market will continue to seek cutting-edge solutions focused on efficient interior claims processing while also underwriting decisioning and Yembo's current technology can seamlessly shift to support these carrier demands. The company's vast domain expertise within the field of 3D computer vision and cloud computing has already deployed a powerful solution for the moving and relocation market, and we are excited to collaborate with and support the team as they extend their business model across the insurance sector."

Yembo Chief Executive Officer Sid Mohan, said, "As we continue to advance the digital transformation of the moving and relocation industry we're just scratching the surface of how powerful our visual AI survey technology can be. The adaptation of our solutions across the insurance ecosystem makes perfect sense. Having the financial support and expertise of the Imagen team will help us execute this vision more rapidly and broadly – and with the benefit of experience, perspective and relationships of a leading tech investor and former Insurtech operators."

The round was backed by the Imagen Capital Partners.

Post funding, Imagen Capital Partners, General Partners, Chris Barrow, and John Polchin will join the Yembo’s Board of Directors team, by serving alongside continuing director Steven R. Altman, Vice Chairman of Qualcomm.

The company will leverage new funds to further advance its efforts towards the moving and relocation sector. Yembo will also develop and leverage its technology to support the insurance industry focused on interior claims processing and underwriting applications, notes the announcement.