Gradient AI, a company that builds AI solutions for the insurance industry, has secured $56.1 million in Series C funding, led by Centana Growth Partners. The money is earmarked for product development and enhancing Gradient’s customer success and sales functions.
The company’s SaaS platform leverages an extensive data lake, including tens of millions of policies and claims, as well as economic, health and geographic data, to develop its AI and machine learning models. Insurance enterprises use Gradient’s offerings to automatically predict underwriting and claim risks, enabling them to increase profitability and save on costs.
The fresh investment will help Gradient add new features and functions to its existing products, introduce new offerings for more insurers and further invest in research and development to sustain its technological edge in the insurance industry.
