ZestyAI, the leading provider of AI-driven risk analytics for the property and casualty insurance industry, today announced it has secured a $15 million credit facility from CIBC Innovation Banking.
The facility enhances ZestyAI’s financial flexibility and reinforces its strong balance sheet as the company scales adoption of its climate and property risk models, delivering over 31 million property risk assessments in 2024, more than double the volume from 2023, and on pace to exceed 46 million in 2025.
“We’ve built ZestyAI with long-term discipline and a clear mission: to help insurers navigate changing risks with confidence,” said Attila Toth, Founder and CEO of ZestyAI. “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."
“ZestyAI is addressing a critical need in the insurance industry with its AI-powered approach to property and climate risk,” said Sean Thompson, Managing Director, California Market Manager at CIBC Innovation Banking. “We’re proud to support ZestyAI’s next phase of growth as it continues expanding its platform and deepening its impact across the insurance ecosystem.”
ZestyAI’s footprint has expanded rapidly across the insurance landscape, with 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, including 26 brand-new clients, and launched four new products.
This growth has been matched by accelerating regulatory traction. ZestyAI’s AI-driven models for wildfire, severe convective storms, and non-weather water damage have now been approved in over 50 regulatory filings nationwide, with recent approvals in Texas, Colorado, Ohio, Georgia, Connecticut, Michigan, North Carolina, Louisiana, and Oklahoma.
Recently reviewed by the California Department of Insurance (CDI) in the rate application process, Z-FIRE™, ZestyAI’s wildfire model, can continue to be filed for rate segmentation and underwriting without further review under the Pre-Application Required Information Determination (PRID) process, effective January 2, 2025.
Built at the intersection of property data, climate science, and AI, ZestyAI’s platform delivers precise, parcel-level risk insights that help insurers strengthen underwriting, price accurately, optimize inspections, and expand coverage, especially in catastrophe-prone regions. In 2024, ZestyAI helped carriers and insurers of last resort extend coverage to over 511,000 properties previously deemed uninsurable, advancing its mission to protect the livelihoods of homeowners, business owners, and their communities.