Insurtech XBuild raises $19 mn Series A to scale AI estimating for insurers

XBuild Secures Funding for AI Expansion

San Francisco-based insurtech company XBuild has successfully raised $19 million in a Series A funding round. This investment, led by N47, is geared towards enhancing its AI-native estimating platform, which is designed for use by both contractors and insurers.

What is XBuild's Platform?

XBuild's platform aims to streamline the estimating process in the insurance and construction industries. By leveraging artificial intelligence, the technology helps users generate accurate estimates more efficiently. This is particularly important for contractors dealing with insurance claims, as it can reduce the time spent on paperwork and improve overall accuracy.

Key Players in the Funding Round

The funding was spearheaded by N47, an investment firm focused on technology-driven solutions in the insurance space. Their backing represents confidence in XBuild’s growth potential and the adoption of its platform. Notable investors may join this round to help accelerate development and market reach.

Impact on the Industry

This funding could significantly impact contractors and insurers by providing them with better tools for estimating costs. Faster and more accurate estimates can lead to quicker claim resolutions, which benefits all parties involved, from contractors to the insurers themselves. As the construction and insurance sectors continue to evolve with technology, platforms like XBuild could play a crucial role in improving operational efficiencies.

Looking Ahead

With this new infusion of capital, XBuild plans to enhance its AI capabilities and expand its platform's features. This could lead to broader adoption within the industry, especially as more companies seek technology-driven solutions to improve their business processes.

Original Source: https://beinsure.com/news/xbuild-raises-19-mn-series-a/