Safehub operates a global platform that delivers real-time building-specific information on earthquake damage. The company employs a combination of sensors, analytics and third-party data. Their sensors measure both earthquake ground motion as well as building response to earthquakes, such as changes in natural frequencies. A cloud-based platform analyses the data and provides actionable information through a web-based dashboard, text messages, and email alerts. The information generated is used to estimate damage to individual buildings and portfolios, gauge related business interruption losses, and inform customers within a matter of minutes.
“The HDI Group is always on the lookout for new technologies that drive digital transformation in the insurance sector for the benefit of our customers. Safehub's platform hits the mark in this respect”, notes Ulrich Wallin, Managing Director of Hannover Digital Investments GmbH. “The solution for building-specific information on earthquake damage in real time offers considerable potential for innovation in business with industrial and commercial customers and on the reinsurance side”, Wallin adds.
“Never before have businesses had this level of information at their fingertips, allowing them to quickly assess damage resulting from catastrophic events, often on the other side of the world”, explains Andy Thompson, CEO of Safehub. “Our vision is to use IoT building sensors and advanced data analytics to provide real-time risk insight for all global commercial buildings, for multiple hazards. We are transforming the entire risk ecosystem, including emergency response, business continuity, structural engineering, and insurance”, Thompson adds.
Safehub received altogether USD 9 million under a Series A financing round, led by A/O PropTech. JLL Spark Global Venture Fund is another capital provider in addition to HDInv. Existing investors such as Fusion Fund, Ubiquity Ventures, Promus Ventures, Bolt, Blackhorn Ventures, Maschmeyer Group Ventures and Team Builder Ventures also participated in the financing round. Safehub will use the capital to augment its growth and scale globally, based on demand from multinational organizations.