Climate analytics platform Faura raises $3.5mn in seed funding
By Mia MacGregor
Feb 6 - (The Insurer) - California-based climate data and analytics platform Faura has raised $3.5mn in seed funding, co-led by Harlem Capital and Building Ventures and supported by MetaProp, Triple Five Group and Dorm Room Fund.
Founded in 2023, Faura provides insurers with proprietary resilience models that analyse individual structures and generate tailored mitigation plans.
The company recently expanded its platform to cover five major natural catastrophe risks: wildfire, hurricane, hail, flood and earthquake. Faura's tools enable underwriters to conduct manual or automated assessments to evaluate property survivability across all five perils.
For homeowners, Faura offers a policyholder inspection tool that facilitates self-assessments, helping them qualify for discounts, grants and other benefits based on mitigation work.
The company stated that the new funding will support its mission to reduce climate risk and improve property resilience.
“Faura’s tools go beyond measuring survivability; they scale solutions to meet the massive demand for disaster mitigation,” said Amanda Southworth, co-founder and chief technology officer of Faura.
Heather Widman, partner at Building Ventures, added: “Faura’s ability to analyse property-specific climate risks and incentivise actionable homeowner interventions gives us hope for keeping more families safe in their homes while addressing the broader climate crisis.”
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