RiskGenius, a US-based natural language processing (NLP) tool provider, has raised an undisclosed amount of series B funding from investors including insurance carrier FM Global and media group Hearst.
The round was led by Hudson Structured Capital Management, an advisory group doing business as HSCM Bermuda, and Hearst participated through its Hearst Ventures subsidiary.
RiskGenius produces NLP technology intended to improve the quality and accuracy of insurance policies. The technology is used by FM Global and fellow insurer QBE, which invested an undisclosed amount in the company in late 2017 through its QBE Ventures unit.
Proceeds from the round will allow RiskGenius to continue improving its platform for commercial insurance carriers and brokers while it looks to initiate outbound marketing and sales to introduce new clients.
