The investment round was led by Burnt Island Ventures, a venture capital firm focused on water innovation, with participation from Foresight Capital Ventures and Previsico’s existing angel investor network.
The new capital will be used to accelerate Previsico’s overall growth strategy, with a significant emphasis on expanding its presence in the US market, where flood-related damages result in billions of dollars in losses annually.
This funding demonstrates strong investor confidence in Previsico’s technology and its mission to mitigate the impact of flooding through advanced real-time alert systems.
Jonathan Jackson, CEO of Previsico, said: “We are thrilled to have Burnt Island Ventures join us as an investor and board member. Their strong support of our vision will help drive Previsico’s continued success.
“With a shared commitment to addressing the challenges of climate change, Burnt Island Ventures brings valuable expertise, particularly in the water sector and the US market, which will empower us to expand our efforts in predicting and preventing flood impacts across new industries and geographies.”
Christine E. Boyle, Partner, Burnt Island Ventures, said: “The Previsico Flood Intel Platform delivers accurate flood alerts to property owners and large asset holders, at the right time, so they can take action. Previsico completely flips the script on underwriting flood insurance for both direct customers and insurance channel partners, and it’s deeply exciting to be a part of it. With abundant proof points of success in the UK, we are excited to work with Previsico on their US expansion.”
This funding round with Burnt Island Ventures as the lead investor, supported by existing investor Foresight Capital Ventures, not only connects Previsico with a global network of water industry professionals but also expands its reach in the US.
David Marock, Chairman of Previsico, welcomed the new partnership, saying: “We are delighted to have Burnt Island Ventures on board, joining an already strong group of investors. Their deep understanding of water-related challenges and opportunities aligns perfectly with our mission, and we look forward to leveraging their expertise as we continue to grow.”
Previsico was advised by the legal team at Mills & Reeve on this investment round.
Flooding remains the most common and costly natural hazard worldwide. Previsico’s next-generation live flood forecasting solution integrates real-time weather data, IoT devices, and advanced flood modelling to address the increasing global issue of surface water flooding. The company’s technology supports insurers, public sector agencies, and businesses in mitigating flood impacts, enhancing resilience, and reducing losses.
