# Flyreel

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/flyreel

- Industry: Software
- Headquarters: Denver, US
- Website: www.flyreel.com
- Total disclosed funding: $16M
- Latest round: Series A (Nov 18, 2020)
- Investors on record: 5

## About

Flyreel, Inc. specializes in advanced property risk assessment solutions, utilizing AI technology to enhance underwriting processes for home insurance providers.Flyreel, Inc., founded in 2016 and headquartered in Denver, US, provides innovative technology for property risk assessment. The company was established by Cole Winans, who has a background in technology startups. In June 2022, Flyreel, Inc. was acquired by LexisNexis Risk Solutions Inc., although the financial terms of the deal were not disclosed. The company has participated in 4 funding rounds, with the latest being a Series A round in which it raised USD 10.00 mn, led by IA Capital Group and including investors such as Donan Engineering Co., Inc., Gradient Ventures, Guidewire Software, Inc., and State Auto Labs.Flyreel, Inc. offers property risk assessment solutions using AI-driven technology to assist home insurance underwriters. Their comprehensive service includes thorough property underwriting reports featuring ground-level assessments and aerial imagery, tailored for a range of clients including home insurance carriers and risk managers. The company markets its offerings across regions such as the United States, the United Kingdom, Brazil, Spain, and Japan.Flyreel, Inc. generates revenue through subscription-based models and partnerships with insurance companies. Clients engage with Flyreel to access its suite of AI-driven solutions, which are structured under pricing plans designed to accommodate various customer segments, ensuring long-term partnerships that allow for continuous updates and enhancements in property risk assessment technology.Looking ahead, Flyreel, Inc. plans to leverage recent funding to expand its technology offerings and enhance product development. The company aims to introduce new features to its existing solutions and explore additional geographic markets for expansion, particularly within the Americas and Europe, by the end of 2023. The acquisition by LexisNexis Risk Solutions is expected to provide the resources necessary for executing these initiatives and advancing its market presence.

## Funding rounds

- Series A, Nov 18, 2020, $10M — IA Capital Group, Guidewire Software, Inc., Gradient Ventures, State Auto Labs, Donan Engineering Co., Inc.
- Seed, Dec 1, 2019, $2.2M — Gradient Ventures, State Auto Labs, Donan Engineering Co., Inc.
- Seed, Apr 10, 2019, $3.9M — Gradient Ventures, State Auto Labs, Donan Engineering Co., Inc.

## Investors

- Gradient Ventures (https://capitalatlas.ai/funds/gradient-ventures) — Seed, Series A
- State Auto Labs (https://capitalatlas.ai/funds/state-auto-labs) — Seed, Series A
- Donan Engineering Co., Inc. — Seed, Series A
- IA Capital Group (https://capitalatlas.ai/funds/ia-capital-group) — Series A
- Guidewire Software, Inc. — Series A