ZestyAI honored for achievements in AI for Finance and Insurance for the second year in a row.
Apr 7, 2021 | 4 min Read
“This is the fifth year CB Insights has recognized the most promising private artificial intelligence companies with the AI 100, and this is one of the most global groups we've ever seen. This year's cohort spans 18 industries, and is working on everything from climate risk to accelerating drug R&D,” said CB Insights CEO Anand Sanwal. “Last year's AI 100 companies had a remarkable run after being named to the list, with more than 50% going on to raise additional financing (totaling $5.2B), including 16 $100 million+ mega-rounds. Many also went on to exit via M&A, SPAC or IPO. As industry after industry adopts AI, we expect this year’s class will see similar levels of interest from investors, acquirers and customers."
ZestyAI’s rapid growth has been fueled by partnerships with about half of the top 50 insurance companies in the US. ZestyAI’s analytics platform is driving an evolution in how insurance carriers and property owners understand the impact of climate risk on real property. The AI 100 award comes at a time of major momentum for ZestyAI, which already helps its partners insure more than $1 Trillion in property value.
“We are very proud to be named to CB Insights AI 100 for the second year in a row.” said Attila Toth, Founder & CEO of ZestyAI. “Frequent natural disasters like wildfires, hurricanes and floods displace families, devastate communities and drive financial loss. As we saw these catastrophes occur at an increasing pace, we turned to cutting-edge technology to predict and mitigate their impact on society. At ZestyAI, we leverage AI and high resolution aerial imagery to understand and quantify the impact of climate risk to each and every building.”
Through an evidence-based approach, the CB Insights research team selected the AI 100 from a pool of over 6,000 companies based on several factors including patent activity, investor quality, news sentiment analysis, proprietary Mosaic scores, market potential, partnerships, competitive landscape, team strength, and tech novelty. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies to help predict a company’s momentum.
Quick facts on the 2021 AI 100:
- Equity funding and deals: Since 2010, the AI 100 2021 cohort has raised over $11.7B in equity funding across 370+ deals from more than 700 investors.
- 12 unicorns: Companies with $1B+ valuations on the list span applications as varied as data annotation, cybersecurity, sales & CRM platforms, and enterprise search.
- Geographic distribution: 64% of the selected companies are headquartered in the US. Eight of the winners are based in the UK, followed by six each in China and Israel, and five in Canada. Other countries represented in this year’s list include Japan, Denmark, Czech Republic, France, Poland, Germany, and South Korea.
About CB Insights
CB Insights builds software that enables the world's best companies to discover, understand and make technology decisions with confidence. By marrying data, expert insights and work management tools, clients manage their end-to-end technology making process on CB Insights. To learn more, please visit www.cbinsights.com.
Increasingly frequent natural disasters, such as wildfires, floods and hurricanes devastated communities and drove $2.2 Trillion in economic losses over the past decade. ZestyAI uses 200Bn data points, including aerial imagery, and artificial intelligence to assess the impact of climate change one building at a time. ZestyAI has partnered with leading insurance companies and property owners helping them protect homes, businesses and support thriving communities.
ZestyAI was named Top 100 Most Innovative AI Company in the world by CB Insights in both 2020 and 2021, as well as a Gartner Cool Vendor in Insurance by Gartner Research in 2019. For more information visit: https://www.zesty.ai/