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Total funding: $23.2 million
What it does: Uses artificial intelligence to allow owners of commercial real estate to see under the hood of their property insurance in order to make changes that reduce their premiums.
Why it s hot: Cofounder Hemant Shah is the longtime CEO of Risk Management Solutions, the largest risk-analytics company. The idea behind Archipelago is to allow owners of commercial real estate to see how their insurance risk is calculated. That gives them concrete information they can use to make decisions to lower their risk and, as a result, their premiums.
The data that Archipelago gathers from building-operations data to the blueprint of a building is then used by insurers to underwrite plans that are more specific with less effort. The combination of a superstar founding team and innovative model has earned the company a lot of interest very quickly. Archipelago already counts the major real-estate owners and operators JLL, Morgan Stanley, and MetLife as
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Two crossed lines that form an X . It indicates a way to close an interaction, or dismiss a notification. Chase Gilbert, CEO and cofounder of Built Technologies. Built Technologies
Construction fintech company Built Technologies raised an $88 million Series C round.
The funding round was led by Addition, tech investor Lee Fixel s new venture capital firm.
Built plans to build tools for construction companies, including a Venmo-style payment platform.
Construction fintech company Built Technologies has raised an $88 million Series C funding round.
The company, launched in 2015, started out building digital tools for lenders to manage their workflows for construction clients. Its tools have been used on over $68 billion worth of construction products, according to the firm.