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Amenity Analytics Closes $18 Million Series B Funding Led by STARR Companies and CEO Hank Greenberg

April 15, 2019

NEW YORK, April 15, 2019 (GLOBE NEWSWIRE) -- Amenity Analytics, an AI-enabled insights platform, today announced it has closed an $18 million Series B round of funding led by insurance industry leader STARR Companies and their CEO Hank Greenberg. The deal also includes a new investment from Allstate and participation from existing investors Intel Capital and State of Mind Ventures.

“Some of the most sophisticated minds on Wall Street already trust our technology to uncover insights that give their investment strategies an edge. The commitment from STARR, their legendary CEO Hank Greenberg, and a firm as well regarded as Allstate demonstrate the power of our platform in another important sector,” said Nathaniel Storch, CEO of Amenity Analytics.

“Over the past year we’ve assembled a dynamic team who has delivered a product that is only scratching the surface of its capabilities. This latest round provides us with the resources to further grow our team and to push the boundaries of where we can apply our technology,” continued Storch.

Amenity uses natural language processing (NLP) to help institutional investors, insurance companies, media organizations, and others to rapidly process and comprehend complex text documents and uncover real-time, actionable insights. Amenity can quickly identify key commentary and determine the critical indicators and statements that help executives make business decisions, drive company performance, and gauge sentiment among a given audience.

Hank Greenberg, Chairman and CEO of Starr Companies, commented, “We are excited to partner with Amenity Analytics to further develop use cases for insurance and accelerate AI innovations.”

“We continually look for innovative capabilities that enhance our customers’ experience and improve our business operations,” said Allstate Strategic Ventures’ Managing Director Tarik Galijasevic. “Amenity’s advanced NLP technology can help us do both by efficiently creating actionable insights from large volumes of text data.”

“Since its initial round of funding, Amenity has demonstrated an ability to advance its technology not only to serve the financial industry, but also to uncover applications for insurance and a variety of other sectors,” said Nick Washburn, senior managing director and chief operating officer of Intel Capital. “Today’s most sophisticated financial institutions can uncover meaningful insights and drive business value by applying Amenity’s novel NLP techniques to their growing volumes of unstructured text.”

“I am pleased to see the great progress that Amenity’s team was able to achieve since its last round of financing. Amenity was successful in becoming the technology leader in providing super-accurate NLP products to the finance and insurance industries, serving some of the biggest and most sophisticated companies and firms in the US, and displacing many previous-generation technologies and vendors,” commented Yuval Baharav, Managing Partner at SOMV. “I am certain, that with this additional funding Amenity will able to further accelerate its growth and extend its technology leadership.”

About Amenity Analytics

Amenity Analytics develops cloud-based analytics solutions to help businesses draw actionable insights from text on a massive scale. The company’s products transform unstructured data into targeted information and deliver it in elegant formats that are intuitive to use, frictionless to onboard, and designed to complement existing workflows. Fortune 100 companies, hedge funds, financial exchanges, media companies, insurance firms and large consultancies rely on Amenity’s proprietary NLP technology to draw insights from large scale text sources ranging from regulatory filings and earnings call transcripts to news coverage, social media activity, and research reports. Gartner named Amenity Analytics a 2018 “Cool Vendor” in AI for Banking and Financial Services. To learn more about Amenity Analytics, visit AmenityAnalytics.com.

About Intel Capital Intel Capital invests in innovative startups targeting artificial intelligence, autonomous vehicles, datacenter and cloud, 5G, next-generation compute and a wide range of other disruptive technologies. Since 1991, Intel Capital has invested US$12.4 billion in 1,554 companies worldwide, and 670 portfolio companies have gone public or participated in a merger or acquisition. Intel Capital curates thousands of business development introductions each year between its portfolio companies and the Global 2000. For more information on what makes Intel Capital one of the world’s most powerful venture capital firms, visit www.intelcapital.com or follow @Intelcapital.

Media Contact:Kyle Kuhnel201-248-3826kyle@broadsheetcomms.com