Based out of London, Tractable develops artificial intelligence for accident and disaster recovery. Recently, the company has secured a $25 million (approx €23 million) Series C investment, led by Georgian Partners with participation from existing investors, including Insight Partners and Ignition Partners. This brings the amount raised to $55 million (approx €50.2 million).
As per the company claims, the funding will accelerate Tractable’s expansion into new markets from the nine countries in which it currently operates.
For the uninitiated, accidents and disasters affect hundreds of millions of people every year, with a worldwide financial impact exceeding $1 trillion, and recovery for those affected always starts with a visual appraisal.
In this regard, Tractable’s AI uses computer vision to appraise the damage. Models are trained on millions of examples, allowing accurate identification of loss and prediction of repair costs, while improving appraisal efficiency and customer experience.