One Concern provides a software platform that models and simulates community resilience and emergency response for earthquakes, floods and other natural disasters. The company plans to scale its platform across Japan under a strategic tie-up with SOMPO, including sales to six or more Japanese cities. It hired Hitoshi Akimoto as country manager for Japan in late 2019 and formally expanded to Japan in February 2020. One Concern announced a strategic partnership with SOMPO in August 2020 and the insurer’s holding company previously invested $15 million. The company was founded in 2015. Its current funding arrangement includes a $45 million investment from SOMPO Holdings as part of a broader $100 million multi-year deal to plug the platform into the Japanese market. One Concern provides AI-enabled resilience solutions that combine disaster science with machine learning to help organizations measure, mitigate, and monetize risk. The company’s platform includes award-winning seismic and flood technology and operates in the US and Japan. One Concern and SOMPO piloted solutions in Kumamoto City and plan to expand into additional local geographies and to private customers beyond local government. The companies announced a multi-year partnership that envisions licensing fee revenue and the potential for future additional investment. As part of that agreement SOMPO made a $15 million investment in One Concern in addition to a prior Series B investment. One Concern has raised almost $75 million to date and continues to work with strategic partners and investors to scale its resilience offerings. One Concern develops predictive AI, branded Seismic Concern, that models earthquake impacts to support preparedness and response. Its models incorporate building structural integrity, seismic activity, and demographic data to help cities prioritize emergency dispatch and assess affected populations. The company partners with municipalities including Los Angeles and San Francisco. One Concern plans to expand its machine learning to predict and mitigate other disasters such as fires, floods, and hurricanes, and aims to assign a unique, verified digital fingerprint to natural and manmade elements. The company said the new funding will be used for research and development. One Concern was founded in 2015, is based in Palo Alto, California, and has 35 employees; advisors and contributors to its human intelligence include David Petraeus, Nate Levine, and Judith Rodin, and former FEMA administrator Craig Fugate joined the company as an employee.

Total raised

$80M

Funding rounds

3

Latest round

Equity

Latest activity

Jun 2021