The funding round was led by Markd, with additional participation from Jazz Venture Partners, Guidewire Ventures, Verstra Ventures, Navigate Ventures, and Seraph Group.
Founded in 2015, Pinpoint Predictive provides machine learning-driven risk assessment tools for property and casualty (P&C) insurers. The company’s platform is designed to improve loss ratios by 3 to 10 points, offering enhanced accuracy in risk management. The newly acquired funds will fuel the expansion of its platform and customer base across home, auto, and commercial insurance markets.
Scott Ham, CEO of Pinpoint Predictive, expressed his excitement about the funding: “We are thrilled by the overwhelming response and confidence shown by investors who share our vision of revolutionising the insurance industry through innovative AI solutions. The milestone is a testament to the amazing team we have here at Pinpoint, as well as a recognition that our platform is empowering clients to improve profitability and better serve their stakeholders. With this new funding, we are not just forecasting trends; we are setting them.”
Parker Beauchamp, Managing Partner of Markd, also emphasised the transformative potential of Pinpoint Predictive’s technology: “We believe the future of insurance lies in embracing advanced AI solutions, and Pinpoint Predictive is a key player in this movement. We are proud to partner with them to help the P&C insurance industry balance profitable growth with equitable service to policyholders.”
The funding round marks a significant step in Pinpoint Predictive’s efforts to advance the adoption of AI-driven solutions in the insurance sector.
Several insurers, including The Philadelphia Contributionship, Glacier Auto Insurance, AmTrust Financial, and Ohio Mutual, are already utilising Pinpoint Predictive’s platform to improve risk assessment and loss predictions. Additionally, the company’s workforce has seen substantial growth, with its total employee count rising by 38% over the past two years, according to LinkedIn data.
