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
Literati, Propertymate, Darwin Homes among newly funded Austin startups
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Austin Inno - The top venture capital funding rounds for Austin startups in January 2021
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AUSTIN, Texas, Jan. 25, 2021 /PRNewswire/ Real estate technology startup Darwin Homes received $15M in Series A funding to make it easier for anyone, anywhere to invest in and manage single-family rental properties. Led by Canvas Ventures, the funding round included new investors Camber Creek, existing investors Khosla Ventures, Wave Capital, Pear Ventures, and Silicon Valley Bank, and angel investors Tony Xu (DoorDash), Ryan Graves (Uber), and Andrew Marks (TQ Ventures).
Co-founded by Ryan Broderick and Zachary Kinloch who were early executives at DoorDash, Darwin Homes incorporates new proprietary property management software that allows owners and managers to take control over and scale their portfolios across different markets nationwide, eliminating the inefficiencies that limit profits and expansion.