US-based property data startup Cape Analytics has secured $14m in a round led by venture capital firm Formation 8 that included XL Innovate, the strategic investment arm of insurance firm XL Catlin.
Data Collective, Lux Capital, Khosla Ventures, Promus Ventures and Montage Ventures also participated in the round.
Founded in 2014, Cape Analytics has developed a software platform that uses geospatial imagery, computer vision and machine learning to generate and provide property data for property stakeholders including insurance providers.
Ryan Kottenstette, chief executive of Cape Analytics, said: “We are honoured to partner with such distinguished investors to grow our engineering and sales teams as we add features and scale our platform to offer nationwide coverage.”