Previsico secures £1.8m in seed follow on funding led by Foresight Group to accelerate product development and international growth.
The round was led by Foresight Group and will support product development, team expansion and sales growth.
Previsico provides live flood forecasting technology using weather data, IoT devices, and flood modelling capabilities.
InsurTech company Previsico has secured £1.8m in a seed follow on investment. The round was led by Foresight Group, with additional participation from the Midlands Engine Investment Fund and Foresight Williams Technology. The capital will be directed towards product development, including IoT sensors, alongside team expansion and sales growth in domestic and international markets.
The funding arrives as the business experiences heightened demand for its live flood forecasting solutions amid rising global flood losses and surface water risks. Previsico combines ground sensors, IBM weather data and proprietary flood modelling to deliver property level warnings.
From the founder
"Previsico’s mission is to be the leading provider of cutting-edge flood prediction technology, worldwide."
Jonathan Jackson
CEO at Previsico
Investor perspective
"We are really excited to be working with Previsico and helping to develop this market leading technology. Since meeting the team, we have been impressed by both the technical and commercial experience within the management team as well as the interest in the platform from a range of customers. The technology has strong ESG credentials and the company should be well placed to capitalise on some promising opportunities as it looks to grow over the coming years."
Jordan Lavender
Investment Manager, Foresight Group
Use of funds
- 01Continue product development
- 02Grow the team
- 03Invest in sales and marketing