Groundspeed Analytics offers a SaaS-delivered submission and placement platform that transforms unstructured submission documents into structured, enriched data via a simple API. Its technology, powered by AI, automates ingestion and enhancement of information used by commercial insurance carriers, reinsurers, and brokers to improve risk selection, lower costs, and write more business. Customers access the company's enterprise data pipeline and API to speed and broaden commercial insurance placement and quoting. The company reports strong year-over-year growth in SaaS revenue and continuing market-share gains. Groundspeed will use new capital to invest in product development, artificial intelligence solutions, and international expansion, and for general corporate purposes. The board will add David Spiro of Insight Partners and James Ryans, as part of the partnership with investors. Groundspeed Analytics develops AI and machine-learning products that automatically convert loss runs, exposure documents, and policy files into actionable information for commercial P&C insurers, brokers, and MGAs. Its core product, the Groundspeed Adaptive Data Pipeline™, focuses on unlocking value from unstructured information to improve margins, identify underwriting profit pools, and enhance customer experience. The company states its automation and analytics platform can eliminate 90% of administrative expenses while delivering ten times the data with 99% accuracy, improving underwriting and analytics efficiency. Groundspeed is privately funded, was founded in 2016, and is based in Ann Arbor and Atlanta. It operates a 40-person data science and engineering team. The company plans to use new funding to continue expanding products and reach and to grow its data science and engineering team. Groundspeed Analytics builds data automation tools for commercial property & casualty insurance, using machine learning and artificial intelligence to convert loss runs, exposure documents and policy files into actionable information. Its platform supports all commercial P&C lines, including workers’ compensation, liability, property, automobile, and excess and umbrella. Users include multi-national commercial insurance brokers, third-party administrators (TPAs), and P&C insurance companies. Led by CEO Jeff Mason, the company aims to help customers identify profitable pools of risk and drive better financial outcomes. The company said it will use new funds to expand sales and marketing and to broaden and accelerate product development. As of the announced round, Groundspeed had raised a total of $2.4M since launch.

Total raised

$32M

Funding rounds

3

Latest round

Series B

Latest activity

Jul 2018