The funding will accelerate Previsico’s strategic development as the company scales its innovative flood forecasting technology and continues expanding across the UK and US while entering new emerging markets. Previsico is addressing one of the world’s fastest-growing challenges, with global losses from pluvial flooding projected to reach USD 850 billion annually by 2050. These losses affect both developed nations, such as the UK and US, and emerging economies. The company’s mission aligns closely with BlueOrchard’s investment focus on scalable, technology-driven businesses that improve the affordability and accessibility of climate insurance.
In the United States, the National Oceanic and Atmospheric Administration (NOAA) reported that flooding caused USD 7 billion in damages in 2023, with many losses uninsured due to low flood insurance availability and uptake. Meanwhile, in the United Kingdom, 2024 was the costliest year on record for flood losses, with payouts exceeding £650 million. These rising losses are driven by climate change, urbanisation, and inadequate drainage systems. A recent Aviva study also projects that the number of properties at flood risk in England could rise from 6.3 million to 8 million by 2050.
The increasing frequency of localised natural disasters is fuelling demand for advanced predictive solutions, an area where Previsico has established itself as a leader. Its live flood forecasting platform integrates real-time weather data, Internet of Things (IoT) sensors, and advanced modelling to help insurers, construction firms, utility providers, and government agencies mitigate flood risks and reduce losses.
Jonathan Jackson, CEO of Previsico, commented: “We’re thrilled to have the support of our new investors at such a pivotal stage in Previsico’s journey. This round of investment marks an exciting milestone for us, enabling our continued growth and accelerating our mission to help communities and businesses become more resilient to the increasing threat of flooding.”
Konstantine Drakonakis, Managing Director of Investments at Connecticut Innovations ClimateTech Fund, said: “We are pleased to invest in Previsico, which is gaining a global reputation not only as a live flood forecasting provider but also as a trusted partner helping organisations and communities adapt to climate risks and manage the financial implications of extreme weather. We are behind the curve in the US when it comes to local-level flood forecasting, and Previsico’s platform is ideally positioned for our market.”
Richard Hardy, Investment Director, Private Equity at BlueOrchard, added: “Part of our mission to expand climate insurance across emerging markets is to ensure that these regions gain access to world-leading climate technologies. Previsico represents an excellent example of such innovation and is an outstanding addition to our portfolio. We look forward to working with Jonathan and his team to help scale their platform globally.”
Through its investment partnerships, BlueOrchard plays a key role in building robust ecosystems for climate adaptation, particularly in emerging markets where protection gaps are most critical and where advanced risk management technologies can have the greatest impact.
Flooding remains the most common and costly natural hazard worldwide, and Previsico’s live flood forecasting solution offers a vital tool for mitigating its effects. By combining real-time data, predictive modelling, and IoT technology, Previsico empowers insurers, public agencies, and businesses to respond faster and more effectively to flood threats, enhancing resilience and reducing economic losses across global markets.
