The funding will support the expansion of Floodbase’s flood insurance programs, furthering its mission to provide data-driven solutions for climate resilience.
Co-founded by Bessie Schwarz and Dr. Beth Tellman, Floodbase has now raised a total of $17 million in venture capital. Since its Series A in 2023, the company has expanded its reach to over 40 countries, enabling more than 9,000 flood insurance policies. Floodbase has established itself as a trusted partner for major re/insurers, including Swiss Re Corporate Solutions, Liberty Mutual Re, and AXA Climate.
Floodbase’s platform continuously monitors global flooding in real time, providing insurers with critical data to develop parametric and traditional flood insurance programs. This capability is instrumental in bridging protection gaps in flood-prone regions and industries.
Earlier this month, Aon launched a new parametric insurance solution in collaboration with Floodbase and Swiss Re Corporate Solutions, designed to provide coverage for losses caused by hurricane-related storm surges. The partnership underscores the growing role of advanced flood analytics in shaping the future of climate risk management and insurance innovation.
Bessie Schwarz, Co-founder and CEO of Floodbase, said: “Flood insurance has typically been limited to direct property damage, which only represents a fraction of the overall economic loss. We’re enabling a financial safety net that can cover any economic loss associated with a flood event. Not only does this remove uncertainties around what’s covered, the fast and flexible liquidity is a game changer for those managing the aftermath. With the growing demand for new flood insurance programs, we are thrilled to partner with EIF to accelerate our growth. We’ve known EIF for a long time and are excited to formalize our partnership. With their support, we’ll continue to lead and empower the market to close the global flood protection gap.”
Sasha Brown, Partner at Ecosystem Integrity Fund, added: “New solutions are urgently needed to adapt to an increasingly volatile climate. The frequency and severity of floods is growing, adding to the already tremendous global flood protection gap. Floodbase can power a new category of flood insurance products and has become the preferred platform for its insurance partners. We are thrilled to be partnering with the company to help accelerate the growth of their critical resiliency offering.”
