Commercial carrier insurtech start-up DataCubes raises $2.5m
Chicago-based start-up DataCubes has raised $2.5m in a series A funding round led by Seyen Capital and MK Capital. DataCubes has developed a platform aimed at the commercial insurance industry that uses artificial intelligence and machine learning to accurately quote commercial insurance policies for customers, removing paperwork and automating underwriting. The new funds will be used to expand sales and marketing, and extend the platform to include additional lines of business.

DataCubes, a Chicago, IL-based data science platform for the commercial insurance industry, completed a $2.5m Series A funding round.

The round was led by Seyen Capital and MK Capital.

The company intends to use the funds to extend platform capabilities to support additional lines of business and scale sales and marketing efforts.

Led by Kuldeep Malik, CEO and co-founder, and Harish Neelamana, Chief Product Officer, DataCubes provides a data science platform that leverages machine learning and AI to analyze sources for insights, like unstructured text and images, to enables carriers to accurately quote commercial insurance policies by asking customers a few questions. Specifically, the company’s D3 platform eliminates paperwork and automates underwriting with machine learning and AI, provides a holistic view of risks by analyzing a variety of internal and external data, and prioritizes commercial insurance applications by using external data to score risks.

FinSMEs

08/09/2017