The round was led by Centana Growth Partners, with continued support from existing investors MassMutual Ventures, Sandbox Insurtech Ventures, and Forte Ventures.
The newly secured funds are earmarked for enhancing product development, advancing innovation, and improving efficiency within the insurance industry. Additionally, the company plans to strengthen its customer success and sales teams to further solidify its market position.
Gradient AI’s offerings are distinguished by their advanced AI and machine learning models, which are powered by an extensive data repository. This includes tens of millions of policies and claims, along with economic, health, and geographic data, enabling insurers to more accurately assess risks and streamline operations to boost profitability.
The funding will be utilized to enhance existing products, introduce new features, and expand the company’s suite of solutions for property and casualty (P&C) and health insurers. Moreover, Gradient AI plans to invest in research and development to continue pushing the boundaries of AI innovation in the insurance market, further cementing its role as a technological leader.
This Series C funding round marks a significant milestone for Gradient AI, which has consistently demonstrated strong performance and high levels of customer satisfaction since its inception. With this financial boost, the company is well-positioned to meet its ambitious growth objectives.
Stan Smith, CEO of Gradient AI, commented on the round, saying: “While we are gratified to secure this significant investment from both Centana and our existing investors, this is just the first step. Now it’s up to us to use this funding wisely, enhancing our platform and delivering unparalleled value to our customers. Insurers are becoming increasingly sophisticated in their risk assessment and are focused on improving their operational efficiencies. We are helping them achieve these goals by automating processes, reducing costs, and significantly improving results.”
Matt Alfieri, Partner at Centana Growth Partners added: “Gradient AI has an experienced executive team and products that produce demonstrable ROI for its customers which, together, have helped Gradient deliver strong financial results. The company is at an important inflection point, and we are excited to partner with Stan and his stellar team. In addition to growth capital, we look forward to providing our knowledge and industry connectivity to assist Gradient in product expansion and go-to-market activities that continue to benefit customers and extend their competitive advantage.”
