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Iot Insurtech Floodflash Fetches £11M Funding

Feb 11, 2022•over 3 years ago

Amount Raised

£11 Million

London

Description

Insurtech firm FloodFlash, which uses internet of things (IoT) sensors to detect flooding and determine insurance payouts, has closed a $15m (£11m) funding in Series A round led by Buoyant Ventures along with Munich Re Ventures.

Company Information

Company

Io T Flood Flash

Location

London, Ontario, Canada

About

The Series A round comes three months after the company announced a new insurance capacity partnership with Munich Re, a provider of reinsurance, primary insurance, and insurance-related risk solutions. FloodFlash CEO Adam Rimmer said: “This investment is an endorsement of our parametric cover and how we’re using it to solve real-world issues. The company combines cloud software, computer models, and internet of things (IoT) sensors to provide its flood insurance cover.

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