TNEDICCA, a provider of location-based traffic crash intelligence and predictive analytics for insurance pricing, has closed a $1.75m Series A funding round.
Tengro Ventures led the round, along with previous investors, Pixel Perfect Ventures and Grange Insurance, an early adopter of the technology and strategic partner. The oversubscribed funding round also included support from other previous investors.
TNEDICCA identifies accident hotspots, enabling consumers and insurance companies to manage risk accordingly. The company has built an accident location database with more than 30 million crashes covering 91% of the US auto insurance market. TNEDICCA’s traffic crash data and location risk analytics products are now available in 40 US states and the UK and have been adopted by more than a dozen insurance companies, including Swiss Re, Grange Insurance, and Buckle.
According to TNEDICCA’s proprietary crash database, the overall number of car accidents in 2022 rose 14% versus 2020 at the onset of Covid-19. The company stressed that the trends of increasing mileage and traffic accidents heighten the importance for insurers to precisely assess their risk and for fleet operators to more effectively manage their loss control process.
Yiem Sunbhanich, co-founder and CEO of TNEDICCA, said, “After more than quadrupling our revenue last year, this funding enables us to take on key strategic initiatives such as gaining regulatory licenses as a Rate Service Organization (RSO) so insurance companies can easily adopt TNEDICCA’s unique solutions which will quickly benefit consumers.”
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