Data analytics platform Zesty.ai secured $10 Million in Growth Capital

 

Zesty.ai, a California based provider of predictive data analytics in the climate risk space, has now secured $10 million in venture debt funding.

Zesty.ai was founded by Attila Toth. The company uses AI to deliver real-time assessments of climate risks associated with real estate assets and portfolios.

The company technology considers a wide range of climate risks, which includes hail storms, wind and wildfires, and some other catastrophic events, to help insurance companies underwrite and rate homeowners and commercial line policies.

Benjamin Wu, CEO of Brex Asset Management, said, "Zesty.ai has built the market-leading data analytics solution that addresses climate risk for insurance and real estate. Zesty.ai is a great example of the many innovative customers we are championing with Brex Venture Debt. Our mission is to support our customers at every stage of growth, and we're excited to help the Zesty.ai team scale their business quickly." 

Attila Toth, Founder & CEO of Zesty.ai, said, "We're at a major inflection point in the future of climate change that requires innovation in how we assess risk and respond to its effects. Zesty.ai is dedicated to helping our customers use the power of AI to better protect families, communities, and their financial well-being. Brex Venture Debt lets us focus on our core mission and be flexible in how we scale our business."

Brex led the funding round for the data analytics startup.

The analytics startup, as of now, has plans to use the new funds to grow in insurance and expand into use cases in real estate which includes asset management and financing, notes the announcement.