This latest investment brings the company’s total financing to approximately $23 million, further advancing its mission to modernise property inspection processes across sectors including real estate, lending, property management, and insurance.
Munich Re Ventures‘ participation in this round reflects strong confidence in Inspectify’s innovative approach to streamlining property assessments. With this investment, Munich Re Ventures has become Inspectify’s largest external shareholder, and it’s Managing Director, Matt McElhattan, will join the company’s Board of Directors. This strategic partnership aims to deliver advanced solutions that address evolving market challenges, particularly in property risk assessment.
“We’re thrilled to deepen our partnership with Munich Re Ventures and Hartford Steam Boiler to enhance our services for property and casualty carriers,” said Josh Jensen, Co-founder and CEO of Inspectify. “With the rise of extreme weather and escalating replacement costs, having accurate, real-time data on properties is crucial for insurers. Our platform is designed to meet these needs.”
The new funding will accelerate the development of Inspectify’s proprietary platform, expanding its offerings to Hartford Steam Boiler’s clients and rolling out the company’s innovative Inspection Warranty. This embedded warranty on inspections is the first of its kind, providing homeowners with additional peace of mind regarding property assessments.
With its cutting-edge software and an extensive network of inspectors, Inspectify continues to simplify and optimise property inspections, helping clients manage risk more efficiently and effectively.
“Inspectify has grown beyond its initial focus on real estate to serve industries like construction lending and insurance,” said Matt McElhattan, Managing Director at Munich Re Ventures. “Their use of automated intelligence ensures standardised, high-quality inspections, regardless of the inspector, which is a game-changer for enterprise customers.”