Monday, December 13, 2021

Sensible Weather Gets $4M For Weather, Climate Risk Insurance

Los Angeles-based Sensible Weather, a new startup which reimburses travelers when bad weather impacts their trips, says it has raised $4M in a seed funding round. The funding was led by Wonder Ventures and Walkout Ventures, and also included Group 1001, Spencer Rascoff's 75 & Sunny Ventures, Raj Gokal of Solana Labs, Spike Lipkin & Gordon Wintrob of Newfront Insurance, and Kiran Bhatraju of Arcadia Energy. The company said it also has received a research and development grant from the National Science Foundation. The startup is led by foudner and CEO Nick Cavanaugh. The company says its weather risk insurance offering determines when rain is forecasted to occur during an outdoor experience, and will pay customers up to 100% of a hotel reservation's average price, for example, if three hours of rain occur.