Risk analytics insurtech ZestyAI secures $15 million credit facility from CIBC
By Michael Loney
June 26 - (The Insurer) - ZestyAI, a provider of AI-driven risk analytics for the property casualty insurance industry, has secured a $15 million credit facility from CIBC Innovation Banking.
San Franciso-based ZestyAI said the facility enhances its financial flexibility and reinforces its balance sheet as it scales adoption of its climate and property risk models.
The company delivered more than 31 million property risk assessments in 2024, more than double the volume from 2023. It is on pace to exceed 46 million in 2025.
“As demand for trusted, property-level risk insights continues to grow, this capital infusion enables ZestyAI to further invest in supporting this rapid growth and become the industry standard for property risk analytics,” said Attila Toth, founder and CEO of ZestyAI.
The company said that it has growing adoption among admitted carriers, MGAs, the E&S market, FAIR Plans and public-private partnerships. Over the past year, the company secured 33 new and expanded customer partnerships.
ZestyAI’s AI-driven models for wildfire, severe convective storms and non-weather water damage have now been approved in more than 50 regulatory filings nationwide.
The company in July 2022 raised $33 million in a Series B round led by Centana Growth Partners.
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