Planck
AcquiredRevolutionizing commercial insurance underwriting with GenAI
New York, United States · Founded 2016 · $36.0M raised
- Headquarters
- New York, New York
- Employees
- 51–200
- Founded
- 2016
- Business Model
- B2B
- Website
- planckdata.com
- Total Funding
- $36.0M
- Last Round
- $20.0M Growth EquityMay 2021
- Rounds
- 3
- Acquired by
- Applied SystemsMay 2023
About
Planck is an AI-based data platform purpose-built for commercial insurance underwriting. Founded in 2016 and headquartered in New York with R&D in Tel Aviv, Planck empowers underwriters with superhuman research and insight generation capabilities to build a true and complete picture of business risk. The platform uses generative AI (Planck PLUS) to automate all phases of underwriting — from data collection and business classification to decisioning — enabling insurers to increase written premiums while reducing loss and expense ratios. Planck works with top U.S. carriers focused on SMB commercial insurance segments including general liability, workers compensation, and commercial property. In July 2024, Planck was acquired by Applied Systems.
Summary
Planck is an Artificial Intelligence company based in New York, United States, founded in 2016. It has raised $36.0M in total across 3 rounds, most recently a $20.0M Growth Equity round in May 2021. Investors include Team8, Applied Systems and 3L Capital.
Tech & App Stack
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Funding History
May 2023
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Seed through Acquisition — per-round amounts, valuations, and who invested in each round.
Investors
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