Australia-based insurance technology provider Huddle has raised $19.2m in a series A round backed by insurance group Hollard Insurance and media business SevenWest Media, Business Insider reported today.
The round was led by venture capital firm AirTree Ventures and included private equity firm Alium Capital.
Founded in 2016, Huddle uses machine learning and artificial intelligence (AI) technology to process instant and automated insurance claims.
Customers can take pictures and upload the relevant documents for car, home and holiday insurance claims through Huddle’s AI-powered mobile app.
Huddle emerged out of stealth in June 2016 following a $6m investment from Hollard.
Jonathan Buck, co-founder and co-CEO of Huddle, said: “This capital raise cements the future of the community-driven and AI-powered model, and will enable us to realise our vision that drives better outcomes for the entire community.”