Highlights:

  • Gradient AI claims to differentiate itself in the market by offering AI and machine learning models that use an extensive industry data lake containing tens of millions of policies and claims, as well as financial, medical, and geographic data.
  • Gradient AI provides automation solutions, including Gradient Agent Foundry, which lets users submit task objectives and pertinent data and is intended to automate various manual procedures in businesses.

Gradient AI Corp. raised USD 56 million in the latest funding. An AI-based business software company supports product development to drive efficiency and innovation in the insurance sector.

The company was established in 2012 and specializes in offering AI solutions to the insurance sector. Its emphasis is on increasing operational efficiency and automating underwriting procedures. The company’s software-as-a-service platform is intended to assist commercial insurers in improving underwriting outcomes, cutting claim costs, and streamlining operations.

Gradient AI claims to differentiate itself in the market by offering AI and machine learning models that use an extensive industry data lake that contains tens of millions of policies and claims in addition to financial, medical, and geographic data. Insurance companies can improve operational efficiency and risk assessment using the data.

Insurance companies can obtain predictive insights from the data lake used in Gradient AI’s AI-powered underwriting, known as SAIL, which enables them to evaluate risks quickly and accurately. The platform seeks to enhance the underwriting procedure as a whole, assisting insurers in gaining additional business and expediting quotation turnaround times.

Moreover, Gradient AI provides automation solutions, including Gradient Agent Foundry. These solutions let users submit task objectives and pertinent data and are intended to automate a variety of manual procedures in businesses. After processing this data, the system integrates with the enterprise’s current data systems.

The company also offers application programming interfaces (APIs) to facilitate data integration. These APIs let enterprises integrate their preexisting expertise with the Gradient AI platform. The APIs also enable the seamless integration of Gradient’s AI features into the products and workflows that exist already.

Centana Growth Partners LP spearheaded the Series C round, with the participation of existing investors such as Sandbox Insurtech Ventures, MassMutual Ventures, and Forte Ventures Inc. Gradient AI’s Chief Executive Officer Stan Smith stated that with the newly raised funding, “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 cost, and significantly improving results,” added Smith.

According to Tracxn data, Gradient AI has raised about USD 125.7 million, including fresh funding.