NEW YORK, Jan. 19, 2021 /PRNewswire/ -- Arbol Inc. announced today that it has closed its Series A fundraising round with commitments totaling nearly $7 million. Arbol's Series A round was oversubscribed and completed at a significant increase in valuation from its initial seed round. All of the company's original seed investors, including Finch Finance LLC and Space Capital, recommitted for the Series A round, in addition to one new investor, Mubadala Capital-Ventures.
"Our strong Series A fundraising positions us extremely well to grow our team at a rapid pace while expanding our commitment to offer fair and fast financial protection for our customers affected by external risks such as climate change," said Sid Jha, Arbol's founder and CEO. "This new capital, paired with having dedicated risk capacity, gives us the ability to continue to invest in and significantly grow the footprint of the Arbol platform. We are proud that all of our original investors remain committed to our mission and our growth. We are particularly excited about adding Mubadala Capital-Ventures as a partner in our efforts, and we look forward to working with their team."
"At Mubadala, we are committed to partnering with exceptional founders early on in their journeys and supporting companies as they scale successfully. We saw in Arbol an opportunity to leverage geospatial data and next-gen underwriting analytics, to bring efficiency and transparency to the insurance industry, and ultimately help businesses of all sizes manage climate risks. We look forward to the progress this new round of capital will enable, and the long-term impacts the Arbol platform will have," said Luke Nicklin, Director, Mubadala Capital – Ventures.
Arbol had previously announced that it had secured in excess of $250 million of its own risk capacity to further the expansion of its parametric product offerings. Its platform facilitated hundreds of deals for institutional clients representing more than $15 million in notional risk over its first eight months of live transactions.
About Arbol Inc.:
Arbol is an InsurTech platform for parametric products that pay quickly and fairly covering external risks such as unexpected weather. Arbol uses Big Data, machine learning, and smart contracts to bring transparency and efficiency to the weather risk market.
Contact: Robert Heilberg