Zesty.ai Raises $33M as Centana Growth Partners Leads Series B
The new funding comes at a time of record growth for Zesty.ai with its climate risk products being used to protect over $3 trillion in assets
San Francisco, CA, July 19, 2022 – Zesty.ai, the leading provider of property risk analytics solutions powered by Artificial Intelligence (AI), today announced the closing of $33M in funding, in conjunction with their Series B led by Centana Growth Partners, a growth equity fund with deep experience in financial and insurance technology. Current investors and Brex also participated in the oversubscribed round with equity and debt. Zesty.ai will use the new capital to expand the breadth of its existing products within insurance and develop new products for the real estate market.
The funding comes at a time of record growth for Zesty.ai, whose revenue grew in excess of
200 percent last year. Zesty.ai partners with about half of the top 50 property and casualty
insurance carriers in the U.S. to underwrite and rate homeowners and business insurance
with high precision. The Company’s climate risk products, which include Z-FIRE™ — a
predictive AI wildfire risk model trained on decades of historical loss data, have seen
widespread regulatory approval and commercial adoption across all states in the US.
Insurance leaders like Amica, Aon, Berkshire Hathaway, Cincinnati Insurance, Farmers
Insurance, The California FAIR Plan and many others are making Zesty.ai’s models an
important part of their risk management strategies.
“Zesty.ai’s rapid customer growth and the regulatory momentum behind their models is a
clear reflection of the return on investment that they deliver to their customers,” said Ben
Cukier, Partner at Centana Growth Partners. “Zesty.ai has a novel approach to looking at
real estate through artificial intelligence and has forged a path for forward-thinking customers
to stay ahead of risk. We’re proud to support Zesty.ai as they continue to establish
themselves as the market leader in AI-driven property risk and value analytics.”
The funding will fuel Zesty.ai’s expansion as it grows the scope of its property and climate
risk products, scales its go-to-market motion, and builds real estate solutions designed
specifically for mortgage, property, and asset management. This represents a natural
extension of Zesty.ai’s core mission in insurance, which is to leverage cutting-edge
technologies like AI and computer vision to help protect families, communities, and their
financial well-being.
“Real estate is the world’s largest store of wealth with more than $300 Trillion in global
assets, but unfortunately the way the world understands value and risk in real estate is
based on outdated inspections and decades old risk maps. That analog view of real estate
has been especially apparent in trying to understand the impact of climate risk on property
value,” said Attila Toth, Founder and CEO of Zesty.ai. “Zesty.ai digitally transforms the
world’s understanding of real estate by using Artificial Intelligence to build best-in-class
predictive models that deliver risk and value insights at the individual property level. We want
to thank our customers and investors for their partnership, as well as our highly-talented
team of Zesties for working tirelessly to deliver on our customer commitments while
protecting the livelihood of people and their communities.”
About Zesty.ai
Zesty.ai offers insurers and real estate companies access to precise intelligence about every
property in North America. The company uses AI, including computer vision, to build a digital
twin for every building in North America, encompassing 200B property insights accounting
for all details that could impact a property’s value and associated risks, including the
potential impact of natural disasters. Visit https://zesty.ai for more information.
About Centana Growth Partners
Centana Growth Partners is a specialized growth equity firm that invests in the future of
financial services. We collaborate with companies across the entire financial services
ecosystem, from institutions to fintech disruptors, to add strategic and long-term value to our
portfolio companies. We empower entrepreneurs with a combination of capital, network, and
expertise to accelerate the growth of our portfolio companies. The Centana team taps into
decades of financial services expertise and insight to invest in companies that bring real
value and innovation to the industry.
