According to InsurTech Insights, the firm is marking a major milestone with this investment round as it grows and innovates in the flood risk management space.

With a focus on joining the lucrative US market later this year, the tranche is expected to support the company's development aspirations.

The firm wants to provide insurance companies and asset owners with its cutting-edge flood risk solution, which will provide them crucial insights to reduce possible risks and improve decision-making.

This strategy builds on the company's rapid success since its founding in 2020 and its emergence as a leader in the industry.

"Flooding has the highest economic impact on society among natural disasters, yet insurers are leaving flood-prone areas because they lack adequate risk information," stated Jonas Aas Torland, CCO and co-founder of 7Analytics. We are providing insurers with data that precisely evaluates the unique risk of every property by using our more thorough approach.