Vestigo Ventures Joins $22 Million Series B Funding for Roots Automation
Slice of Finance Team
10/08/2024
Key Highlights:
- Vestigo Ventures joins $22M Series B round in Roots Automation.
- Roots Automation's InsurGPT™ leverages AI to transform unstructured data for insurance.
- Funding to fuel market expansion and product innovation.
- Roots Automation supports 35 US-based insurance companies with AI-driven solutions.
Source: Business Wire
Quotes
“ “Thanks to investment from innovators like Vestigo Ventures, we can accelerate the development of solutions to help insurance businesses succeed by providing outstanding protection and service to policyholders.” ”
Chaz Perera, Co-Founder and CEO at Roots Automation
Our Take:
This Series B investment highlights the growing importance of AI in transforming industries like insurance, where unstructured data has long been a challenge. Roots Automation, with its proprietary InsurGPT™ and advanced AI capabilities, is positioned to lead in solving these problems. Vestigo Ventures' continued support showcases confidence in the AI-driven future of insurance, making this partnership crucial for market growth and innovation over the next few years.
