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Insurance risk platform Archipelago has raised $34 million in funding led by Scale Venture Partners and earlier investors Canaan Partners, Ignition Partners, and Zigg Capital. Principals from Stone Point Capital, along with Prologis Ventures, also participated in the round.
Since publicly launching in August 2020, Archipelago’s
platform has empowered the biggest commercial property owners and managers in
the world (like Prologis, JLL, Alexandria) to use AI and data to manage their
risks and improve their insurance outcomes.
Over 330,000 commercial properties with total insured values
of $2.3 trillion are currently on Archipelago, figures that are growing weekly.
Archipelago’s platform uses machine learning and data verification designed by an internal team of expert structural and risk engineers to digitize and enrich property risk data from a wide range of unstructured source documents, schematics, and images. This ensures that all parties within the property
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