CompScience Raises $6 Million in Seed Round  

by Kay Aloha Villamor in September 5th, 2022

CompScience, a San Francisco, CA-based provider of an AI-powered workplace safety analytics platform, announced that it closed $6 million in seed funding.

CompScience received key workers' comp insurance and distribution partnerships including The Hartford, Mid Atlantic Insurance Group, LLC, Bender Insurance Solutions, Heffernan Insurance Brokers, and the Insurance Office of America.

Investors in the platform include Working Capital Fund, Preface Ventures, Hustle Fund, Pathbreaker Ventures, and others.

CompScience has grown 5x year on year and now covers 70% of the US market.

“Every company needs a workers’ comp solution, but CompScience is delivering more value than simply coverage. We use objective data to protect people, and we reward our clients for their safety investments,” explained Josh Butler, Founder and CEO of CompScience Insurance.

Company: Kinetic Incorporated

Raised: $6.0M

Round: Seed Round

Funding Month: Aug 2022

Lead Investors: Working Capital Fund, Preface Ventures, Hustle Fund, Pathbreaker Ventures

Additional Investors: 

Company Website: https://www.compscience.com/

Software Category: Workers' Comp Insurance with Video Analytics

About the Company: CompScience provides video analytics as a service and data-driven recommendations that can rapidly yield results in the $6 trillion market for workplace safety. With existing video from work sites, the CompScience platform generates proprietary risk factors from 50+ behavioral and environmental hazard detectors with an expanding library of computer vision models. The system was designed from the ground up with privacy and security in mind. The AI-driven video analytics system does not identify individuals or retain personal information of any kind. CompScience Insurance can reduce workers’ comp insurance for businesses and manufacturers in all industry verticals while reducing injuries. The product is based on AI-powered safety analytics, providing expertise in risk assessment, and recommendations to make workplaces safer. CompScience makes workplaces safer and lowers rates with the only AI-powered workers' comp policy on the market.

Source: https://www.globenewswire.com/news-release/2022/08/25/2505017/0/en/CompScience-Receives-Workers-Comp-Insurance-Industry-Validation-and-Closes-6M-Seed-Round.html




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