FutureProof, which helps financial services companies assess climate change risk, has secured $3m in funding
The company has also made its tools available free to financial regulators to support the charge in regulating financial implications of climate change.
Innovation Endeavors served as the lead investor, with contributions also coming from MS&AD Ventures and Blackhorn Ventures. The round also disclosed partnerships with Tishman Speyer and Equilibrium Capital, among others.
FutureProof’s mission is to help companies better understand financial risks and opportunities created by climate change through actionable insight for professionals.
It claims to be the first climate risk analytics firm using AI to project climate-linked financial losses based on specific characteristics of each asset.
Financial institutions can leverage the platform to quantify the dollar value of current and future climate-linked financial losses to physical structures, bonds and more than 50,000 public and private companies.
FutureProof CEO and co-founder Alisa Valderrama said, “The climate risk data available to financial institutions today is largely non-financial in nature, which means it cannot be integrated into financial models. We give organizations the sophisticated tools they need to manage physical climate change risk in financial terms.”
Founded in 2019, the company’s platform offers both a subscription and freemium model.
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