Betterview, an InsurTech startup focused on capturing and analyzing data from drones, has raised just over $2 million in venture financing.
Compound Venture Capital led the $2.05 million seed round. Maiden Re, 645 Ventures, Arab Angel, Winklevoss Capital, Chestnut Street Ventures, Pierre Valade, Edward Lando and earlier investors Haystack and MetaProp also participated.
Plans call for using the infusion of capital to expand the company’s existing artificial intelligence capabilities. Executives will also accelerate product development and boost their adjusting, engineering and operations staff.
Betterview, based in San Francisco, launched in 2014. The company bills itself as a provider of software and services that capture, organize and analyze data for buildings and properties. This is done through the use of drones, which capture detailed imagery that is then processed and combined with other data to better understand a given property.
Betterview also touts its computer vision system/artificial intelligence as being able to identify roof problems such as hail and wind damage, loose wires, water pounding and more. The intelligence is built from more than a million analyzed and tagged images of building and properties, and Betterview’s system gets smarter and better at detecting roof/property issues with each inspection, the company claims.
Betterview said it has a network of more than 4,400 drone operators globally and has inspected more than 7,400 buildings for 80-plus customers in insurance, real estate and construction.