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The Venture Codex

State Auto Labs Fund

518 E Broad St, Columbus, OH, 43215, United States

Overview

State Auto Labs brings together investment and insurance expertise to grow innovations that are reinventing the insurance industry.It connects startups with capital, technologists and insurance industry experts. Our objective is to identify, become early adopters of and invest in transformative technologies and solutions.

Total investments
8
Lead investments
0
Investments · 12mo
0
Active investors
0

Sector focus

  • Insurance
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Investment portfolio

  • Driver Technologies

    Participated · Equity · Jun 2023

    Driver Technologies is a New York-based AI mobility tech company led by CEO Rashid Galadanci that offers the Driver mobile app to turn a user’s phone into a dash cam. The app records trips, provides safety alerts (forward collision, drowsiness and distraction), offers cloud-based video storage, coaching, scoring and roadside assistance while giving users control over what data they share. Over the last six months the company launched two subscription plans—Driver Professional for enterprise fleets and Driver Family for households—and introduced Driver Cooler, a cooling dash-cam phone mount to encourage hands-free use. Driver has formed integrations and partnerships including being the only software-first solution on the Geotab Fleet Management Platform, entering the OEM market with TomTom, and protecting the car rental/sharing economy with Getaround. The company raised $6M in its latest funding round, bringing total capital raised to $16M. It plans to use the funds to expand adoption of its AI-powered dash cam and safety alert app into insurance-backed programs for commercial and personal drivers and to pursue direct integrations with insurance, automotive and municipal partners to enhance road safety.

  • Relativity6

    Participated · Seed · Apr 2022

    Relativity6 provides an AI platform that retrieves up-to-the-second information about a business to automatically detect its 6-digit NAICS code and verify its digital existence. Its proprietary real-time API is designed to streamline and simplify commercial insurance underwriting by delivering critical industry-classification data. The company targets commercial insurance underwriters and plans to expand into new financial services markets. Led by CEO Alan Ringvald and based in Boston, MA, Relativity6 emphasizes verification of a business's digital presence as part of its product. The company intends to develop additional critical business data points to broaden its offering and support underwriting workflows. Relativity6 raised seed financing to accelerate sales and product development efforts.

  • Cape Analytics

    Participated · Series C · Jul 2021

    CAPE Analytics uses machine learning and computer vision to create instant property intelligence and attributes that traditionally required on‑site inspection. The company’s product is aimed at organizations that finance, insure, and invest in residential and commercial properties. Since its founding in 2014, CAPE has grown to serve over 50 subscription customers, including Hippo Insurance, Amica Insurance, and State Auto Insurance. The business plans to diversify its suite of data sources and partnerships, expand its coverage footprint across the U.S., Canada, and beyond, and grow its machine learning, data science, and risk teams. The company emphasizes rapid, scalable property insights for underwriting, valuation, and risk decisioning. The Series C funding will accelerate creation of new property insights for its growing client base. Cape Analytics applies computer vision and machine learning to geospatial imagery to produce property intelligence at the time of quote. Its platform delivers comprehensive property attributes with the accuracy of on-site inspection and the speed and coverage of property record pre-fill. The company maintains a historical database of over 90 million structures in the U.S., enabling time-series analyses, linking property characteristics to loss, and detecting property changes over time. Cape Analytics serves insurers and other property stakeholders, and is backed by leading venture firms and innovative insurers. Founded in 2014 and based in Mountain View, Calif., the company is staffed by experts in computer vision, data science, and risk analysis. It plans to accelerate development of solutions for property insurers leveraging geospatial analytics and other unique information sources. Cape Analytics uses computer vision and machine learning on geospatial imagery to create a structured database of property attributes for insurers and reinsurers. Its data includes building footprints, roof condition, nearby hazards, and other features, and covers over 70 million buildings across the United States. The product delivers instant property intelligence at the time of underwriting or quote, enabling more accurate pricing and faster online quotes with fewer consumer questions. Founded in 2014 and based in Mountain View, Calif., the company expanded coverage from Florida to nearly every single-family home in the country and has tripled headcount since its last financing. The fresh $17M will be used to expand sales and AI-centric product development teams in response to rapid customer interest and adoption. Cape Analytics also plans to explore expansion into new geographies and additional insurance applications to improve data quality used for insurers' critical decisions. Cape Analytics provides a cloud-based platform that uses geospatial imagery, computer vision and machine learning to automatically extract proprietary property data. Its API integrates with insurance carriers' quote engines to deliver near inspection-quality property feature data across entire portfolios. The data is intended to improve underwriting, speed and accuracy of quotes, and enhance the agent and customer experience. The company plans to use the funds to expand its engineering and sales teams and to bring its proprietary data platform nationwide. Cape Analytics was established in 2014 and is led by CEO Ryan Kottenstette and CTO Suat Gedikli. It is based in Palo Alto, CA, and maintains additional offices in Munich, Germany.

  • Flyreel

    Participated · Series A · Nov 2020

    Flyreel provides a mobile, AI-driven Property AI Assistant that guides policyholders through contact-free self-inspections and uses proprietary computer-vision to document hazards, features, materials, and other critical property data. Its platform captures ground-level interior and exterior property data to improve underwriting, loss control, and claims outcomes across insurers' books of business. The company now serves 15 major insurance providers and has demonstrated integrations with carriers and partners. Flyreel plans to expand its product line and platform features to deliver further integration and automation across the insurance value chain. It will leverage proceeds from its recent financing to continue serving customers and scale those product and platform enhancements. Flyreel positions its AI Assistant to adapt conversational workflows in near real-time based on what it detects during policyholder scans. Flyreel is a Denver, CO-based AI solution for property insurance that equips carriers with an AI assistant to capture and analyze ground-level data. The assistant guides policyholders through self-inspections using their mobile device camera and insurance-specific computer vision. As users pan their phone across a property’s interior and exterior, Flyreel’s proprietary computer vision automatically documents property data, features, contents, and policy-worthy details. For carriers this enables personalized self-inspections at scale, real-time data intelligence, and comprehensive baseline records to inform decisions across the value chain. Flyreel raised $3.85M led by Gradient Ventures with participation from State Auto Labs Fund and Donan, and will use proceeds to service new and existing demand, expand the team, and accelerate development of its patent-pending technology. The company is led by CEO Cole Winans and COO Laurie Kuhn.

  • Teraki

    Participated · Series A · Dec 2019

    Teraki builds AI and edge data-processing software that makes applications and algorithms run up to 10X more efficiently on constrained automotive and IoT hardware while preserving data quality for machine learning. Its Intelligent Signal Processing product extracts more information from telematics, video and 3D point-cloud signals with an ultra-low footprint suitable for safety-critical and certifiable embedded systems. The technology is used for predictive maintenance, crash detection, object detection, sensor fusion, AD and ADAS applications, and the company cites engagements with automotive OEMs, Tier 1 suppliers and semiconductor customers. Teraki highlights partnerships with Microsoft and Infineon and says its software enables devices to communicate and accelerate AI up to 10X more efficiently. The company employs about 40 people and will use new funding to grow the team, accelerate the product roadmap and expand into the U.S. and Asia (it recently opened offices in Seoul and Tokyo). Financially, Teraki closed an $11M Series A, bringing total capital invested to $16.3M, and plans to target the $395 billion automotive electronics market while expanding into drones, robotics and other IoT sectors. Teraki develops embedded, pre-processing software that reduces and structures the vast amounts of sensor and control-unit data generated in vehicles so lower-power automotive hardware can process it. When embedded in ECUs, MCUs and TCUs, the software aims to improve vehicle safety and autonomy while lowering operational costs. The company has completed several pre-production validations with premium automotive manufacturers and has performed integrations on a variety of microcontrollers. Teraki plans to use new funding to continue to expand its operations. The company is led by CEO and co-founder Daniel Richart and co-founder/CTO Markus Kopf. As of this round the company has raised a total of $5.3M. Teraki provides AI-based Intelligent Signal Processing software that enables edge data processing and delivers more than a 10X increase in automotive chip, communications and learning performance. Its technology targets resource- and cost-constrained automotive ECUs and networks to make highly accurate AI applications possible at scale in embedded environments. Teraki has completed several pre-production validations with premium automotive manufacturers and chip suppliers and has ongoing proofs of concept with additional OEMs. The company plans to use recent financing to support growth of automotive customer implementations and to accelerate development of its product roadmap. Teraki is privately held, headquartered in Berlin, and was founded by co-founders Daniel Richart and Markus Kopf, who lead a research team of more than 10 researchers. The team emphasizes adapting high-end data-analytics techniques to the constrained automotive infrastructure and other data-intensive IoT markets over time.

Team

No current team members are available.