7Analytics develops high-precision models to predict floods and landslides for insurers and asset owners. The company says its deeper approach provides insurers with data that accurately assesses the specific risk of each property. Founded in 2020 and described as Norwegian, 7Analytics raised €4 million from Scale Capital. The startup plans to enter the US market later this year and offer its flood risk solution to insurance companies and asset owners. Its leadership highlights that better property-level risk information is needed as insurers leave flood-prone areas. The funding is positioned to support the company’s product rollout and market expansion. 7Analytics, founded in 2020 and headquartered in Bergen, Norway, builds FloodCube, a platform that uses AI and advanced machine learning to calculate current surface water and runoff and model future flooding under increased rainfall. FloodCube integrates large, openly available datasets — including digital elevation models, satellite imagery, and climate data — to predict where water will accumulate and how floods will unfold. The product consolidates analyses that otherwise require multiple software programs and manual calculations into a single workflow for construction and infrastructure customers. Current customers include the Municipality of Bergen, Skanska, and Multiconsult, and the company is expanding its focus from construction into energy infrastructure. 7Analytics has partnered with StormGeo to translate weather forecasts into actionable site-level flood risk information for industrial customers, including oil and gas sites. The company plans to scale globally and adapt its models to other nature risks such as landslides and biodiversity.

Total raised

$7M

Funding rounds

2

Latest round

Equity

Latest activity

May 2024