Flyreel, a U.S.-based Artificial Intelligence (AI) solution for residential and commercial property insurance, recently announced it secured $10 million through its Series A funding round, which was led by IA Capital Group with participation from Guidewire Software, Gradient Ventures, State Auto Labs, and Donan Engineering.
Founded in 2016, Flyreel stated its AI solution for property and casualty insurance carriers equips carriers with total property understanding, for better insurance outcomes.
“Our AI assistant guides policyholders through self-service inspections and claims while automatically documenting critical property details like risks, hazards, materials, objects and more.”
Flyreel’s Founder and CEO, Cole Winans, spoke about the investment by stating:
“We’re grateful for the vote of confidence our investors and customers have placed in our business. Our team is excited to be so well-equipped as we remain steadfast in our focus on supporting our customers as they deploy the best of today’s technology to improve underwriting and claims outcomes for themselves and their policyholders.”
Flyreel added it will use the Series A funding to continue serving its growing list of customers while expanding its product line and platform features to deliver further integration and automation across the insurance value chain.