CLIMATE TECHNOLOGY COMPANY SENSIBLE WEATHER GUARANTEES $12M SERIES A
Funding will accelerate development of climate risk management platform and partnerships with industry-leading travel and hospitality brands
LOS ANGELES, May 4, 2022 /PRNewswire/ — Reasonable weathera company specializing in climate risk technology, today announced its $12 million Series A funding round, bringing its total funding to more than $20 million. The tour was led by San Franciscobased at Infinity Ventures with participation from Certares Ventures, Derive Ventures and existing investors Wonder Ventures and Group1001.
The new capital will enable Sensible to develop its pool of top engineers and scientists, accelerate the development of its proprietary climate data and risk analysis platform, and expand its Weather Guarantee offering across international markets.
“Embedded finance is a large and growing market, and Sensible has shown rapid traction in the space by combining proprietary climate analytics and fintech to create new value for consumers,” said Jay Gantara, Partner, Infinity Capital. “In the same way that extended warranties offer consumers protection on goods they have purchased, Sensible’s new Weather Guarantee service covers experiential purchases such as travel reservations and event tickets with a new form of warranty protection.”
Since launching earlier this year, Sensible has sold thousands of weather warranties through its growing list of hospitality and outdoor recreation partners. Consumers purchase Weather Guarantee protection when booking travel reservations and paid attractions online and if a weather event, such as rain, is forecast during the covered experience, Sensible automatically sends a refund. Warranty payments are processed immediately, based on the number of hours the experience is negatively affected by weather conditions.
“With Weather Guarantee attach rates approaching 50% across premier partner channels, we convert approximately 5x more than traditional travel insurance,” said Nick Cavanaugh, Ph.D., Founder and CEO of Sensible Weather. “We are doubling down on our investment in this new integrated fintech service to accelerate our goals of generating ancillary revenue for partners and improving the experience for travelers. outdoor experiences, Sensible’s weather warranties give consumers peace of mind when booking online by giving them the ability to recoup lost experiences when bad weather interferes with their plans.”
As a platform company, Sensible’s Weather Guarantee is the first of several products developed on its climate engine, a high-performance data, analytics and risk assessment platform, to address the market more range of weather insurance. Each of Sensible’s constituent components is built to rigorous SaaS standards and is meant to be use-case agnostic, enabling the company to meet the needs of consumers and businesses across a wide range of climate-impacted industries.
About reasonable weather
Sensible Weather is a weather risk technology company that reduces weather risk for travelers and travel partners. Founded in 2019 by a climatologist Nick CavanaughPh.D., Sensible is supported by a national science foundationgrant and $22 million in total funding. For more information, please visit: https://www.sensibleweather.com/.
About Infinity Ventures
Founded by partners at PayPal Ventures, Infinity is one of the first early-stage venture capital firms to invest in companies that enable the next generation of fintech and commerce.
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