Tractable, which works with automotive insurance companies to let users take and submit photos of damaged cars that are then “read” to make appraisals, has raised $60 million, a Series D that values Tractable at $1 billion, the company said.
Its business today is based mostly around car accident recovery — where users can take pictures using ordinary smartphone cameras, uploading pictures via a mobile web site (not typically an app). But Tractable’s plan is to use some of the funding to expand deeper into areas adjacent to that: natural disaster recovery (specifically for appraising property damage), and used car appraisals.
It will also use the investment to continue building out its technology, specifically to help build out better, AI-based techniques of processing and parsing pictures that are taken on smartphones — by their nature small in size.
Source: TechCrunch
Read more at https://tcrn.ch/35vWEwM
