# Planck Resolution

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/planck-resolution

- Industry: Software
- Headquarters: New York, US
- Website: www.planckdata.com
- Total disclosed funding: $28M
- Latest round: Series B (Jun 10, 2020)
- Investors on record: 4

## About

Based in the US, Planck Resolution Ltd. specializes in generative AI solutions for the commercial insurance underwriting sector, enhancing risk assessment and decision-making processes.Planck Resolution Ltd. provides advanced tools for the commercial insurance sector. Founded in 2016 in New York, US, by Amir Cohen, David Schapiro, Elad Tsur, Fabian Koopen, Marta Carli, Phalgun Neralla, and Ward Alblas, the company has completed 6 deals. Its latest funding round occurred on July 23, 2024, raising USD 23.00 mn, led by Vintage Investment Partners, with participation from other investors. The company has not undergone significant pivots or changes in ownership.Planck offers advanced generative AI solutions specifically tailored for the commercial insurance underwriting sector. Their primary product, Planck PLUS, enhances the accuracy, consistency, and accountability of underwriting processes through sophisticated AI models and extensive data analytics. This platform assists underwriters in navigating risk assessments and making informed decisions, supporting a diverse clientele including insurance carriers, brokers, and underwriters across North America, Europe, and Asia, with a focus on the restaurant, bar, and tavern industries.Planck generates revenue through a subscription-based model for its Planck PLUS platform. Clients engage on a business-to-business basis, with transactions structured around annual or multi-year contracts. Pricing is determined by the level of service and data access required, allowing firms to tailor their packages according to their specific underwriting needs, ensuring a steady revenue stream while accommodating client growth.In July 2024, Planck Resolution Ltd. was acquired by Applied Systems, Inc. This acquisition will support Applied Systems in enhancing its service offerings. The acquisition does not detail any upcoming products or expansion into new markets at this time, but the strategic move is expected to leverage Planck's capabilities in the commercial insurance sector.

## Funding rounds

- Series B, Jun 10, 2020, $16M — Team8 Capital
- Series A, Jul 4, 2018, $12M — Eight Roads Ventures, Viola Group, Arbor Ventures

## Investors

- Eight Roads Ventures (https://capitalatlas.ai/funds/eight-roads-ventures) — Series A
- Viola Group (https://capitalatlas.ai/funds/viola-group) — Series A
- Arbor Ventures (https://capitalatlas.ai/funds/arbor-ventures) — Series A
- Team8 Capital (https://capitalatlas.ai/funds/team8-capital) — Series B