Tractable Receives $65 Million Investment

London-based AI startup Tractable has raised $65 million in a Series E investment round led by SoftBank Vision Fund 2. Georgian and Insight Partners also participated in this investment round. Following the $65 million investment, SoftBank's Nahoko Hoshino joined Tractable's board of directors. The London-based artificial intelligence startup has raised a total of $185 million in funding so far with the new investment. However, no information was given on the current valuation of the startup.

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Tractable Works with Important Brands in the Insurance Industry

The London-based artificial intelligence startup works with companies that provide insurance services in the real estate and automotive sectors. It offers artificial intelligence solutions to these companies. Tractable can determine the extent of damage from photos of damaged vehicles and houses. In this way, it also speeds up the decision-making process for insurance claims. The London-based artificial intelligence startup analyzes and analyzes the photos of a car that has been in an accident in detail and then provides information about whether it will be repaired or not. If it is possible to say so, it presents a report to the customer in the form of a report on which actions will be taken.

Tractable was launched in 2014 by Razvan Ranca, Adrien Cohen and Alexandre Dalyac. The aim of the startup is to speed up the damage assessment process by up to 10 times. It utilizes artificial intelligence technologies for this. The London-based startup is currently working with important names in the insurance industry such as Verisk, Aviva, MAPFRE and GEICO.