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FloodFlash has raised $17.0M across 2 funding rounds.
Key people at FloodFlash.
FloodFlash has raised $17.0M in total across 2 funding rounds.
Based in London, United Kingdom, FloodFlash provides parametric flood insurance using IoT sensors and data models to facilitate rapid payouts for commercial and residential properties at high flood risk. Operating as an authorized coverholder for Lloyd's of London and regulated by the Financial Conduct Authority, the company generates revenue through premium sales. The platform serves high-risk public entities and commercial clients, including Premier League football clubs and Fortune 500 pharmaceutical companies, offering coverage for property damage and business interruption. Founded in 2016 by Adam Rimmer and Ian Bartholomew, the enterprise operates with a team of 34 employees, generates just under five million dollars in annual revenue, and has raised over two million pounds in total funding. The firm recently expanded its operations into the United States market, offering policies across ten states including New York and Delaware.
FloodFlash has raised $17.0M in total across 2 funding rounds.
FloodFlash's investors include Amy Francetic, Robert Lumley, Remus Brett, Jon Soberg, Ben Bergsma, Eddie Anderson, Nikolas Samios, Sony Financial Ventures, Eurazeo, Insurtech Gateway, Tara Reeves.
FloodFlash is a parametric flood insurance company that provides fast, flexible coverage to businesses, public entities, and residential properties underserved by traditional insurance markets. It solves the problem of high premiums, exclusions, and slow claims for flood-prone properties by using IoT sensors and advanced risk modeling to trigger automatic payouts when predefined water levels are reached, often within 48 hours.[1][3][4][5] The company targets SMEs, high-risk locations, and those needing NFIP excess coverage, addressing a $58bn global flood underinsurance gap amid rising climate-driven floods, with strong growth including UK market leadership and a recent US expansion.[3][4][9]
FloodFlash was founded in September 2016 by Adam Rimmer (CEO, Natural Sciences degree from Cambridge) and Dr. Ian Bartholomew (PhD in glaciology and hydrology) in the kitchen of Bartholomew's flat, after years of collaboration at RMS, the world's largest catastrophe risk modeling firm.[1][2] The idea sparked from Hurricane Sandy's 2012 impact on New York, where even insured entities like the MTA struggled with post-event coverage renewals, highlighting gaps for smaller businesses without access to catastrophe bonds.[1] Early traction came via a UK pilot with SMEs, FCA Regulatory Sandbox approval, funding from Insurtech Gateway, and capacity from Everest Re, paving the way for a full UK launch by 2019 and subsequent innovations.[1][3]
FloodFlash stands out in the insurtech space through its tech-driven parametric model, combining IoT sensors, real-time data, and cloud-based underwriting for superior speed and accessibility:
FloodFlash rides the climate tech and insurtech wave, capitalizing on urbanization, frequent catastrophic flooding, and a $58bn underinsurance gap exacerbated by unpredictable weather patterns.[3][4] Its timing aligns with IoT maturation, real-time data analytics, and parametric "2.0" innovations, enabling mass-market access to tools once limited to governments and large corps like catastrophe bonds.[1][3][6] Market forces favoring it include regulatory sandboxes (e.g., FCA, Lloyd’s Lab), reinsurance backing, and demand for resilient business recovery post-events like Sandy.[1][3] By closing protection gaps, it influences the ecosystem, boosting SME resilience, inspiring hybrid insurance models, and expanding to the US amid rising flood risks there.[3][8][9]
FloodFlash is primed for scaled growth, with US launches providing parametric excess to NFIP gaps and record UK gross written premiums signaling momentum toward global dominance in event-based cover.[3][8][9] Trends like AI-enhanced modeling, denser IoT networks, and climate adaptation mandates will accelerate adoption, potentially evolving it into a full catastrophe platform. As floods intensify, FloodFlash's sensor-driven resilience could redefine insurance, making financial protection ubiquitous—from UK SMEs to US public entities—directly fulfilling its mission to empower recovery for all.[1][4]
FloodFlash has raised $17.0M across 2 funding rounds. Most recently, it raised $15.0M Series A in February 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 14, 2022 | $15M Series A | AMY Francetic | Robert Lumley, Remus Brett, JON Soberg, BEN Bergsma, Eddie Anderson, Nikolas Samios, Sony Financial Ventures | Announced |
| Jul 1, 2018 | $2M Seed | — | Eurazeo, Insurtech Gateway, Tara Reeves, Eddie Anderson | Announced |
Key people at FloodFlash.