Tractable provides AI-powered solutions that automate damage assessment for insurers and automotive businesses. The platform analyzes images of damaged vehicles and properties to generate repair estimates and claims decisions in real time.
By combining computer vision and deep learning, Tractable enables insurers to reduce claims processing time, lower costs, and improve customer experience across global insurance markets.
What Is Tractable and What Does It Do?
Tractable, founded in 2014, is a London-based artificial intelligence company operating in the auto and insurance technology space. The company develops AI models that assess vehicle and property damage using image recognition and machine learning.
The company employs 117 employees as of December 2024. Tractable’s solutions are used by insurers, repairers, and fleet operators to automate claims workflows and improve operational efficiency.
How Much Funding Has Tractable Raised?
1. Seed Round
- Amount Raised: $1.9M
- Date: June 2015
- Lead Investors: Zetta Venture Partners
- Motivation: To develop initial AI models for visual damage appraisal.
2. Series A
- Amount Raised: $8M
- Date: January 2017
- Lead Investors: Ignition Partners
- Motivation: To expand the engineering team and enhance AI capabilities.
3. Series B
- Amount Raised: $25M
- Date: July 2018
- Lead Investors: Insight Partners
- Motivation: To scale operations and enter new insurance markets.
4. Series C
- Amount Raised: $25M
- Date: February 2020
- Lead Investors: Georgian, Plug and Play
- Motivation: To accelerate global expansion and product development.
5. Series D
- Amount Raised: $60M
- Date: June 2021
- Lead Investors: Georgian, Insight Partners
- Motivation: To scale core products and reach unicorn valuation.
6. Series E
- Amount Raised: $65M
- Date: July 2023
- Lead Investors: SoftBank Vision Fund 2
- Motivation: To expand across automotive and property insurance ecosystems.
Total Funding Raised: $185 Million
Current Valuation: $1 Billion (as of Jun 2021)
Latest Funding Date: July, 2023
Key Investors
1. SoftBank Vision Fund
- Details: A global technology-focused investment fund managed by SoftBank Group.
- Investment Focus Areas: Artificial intelligence, enterprise software, automation.
- Notable Investments: Tractable, Uber, Arm, WeWork.
2. Georgian
- Details: A growth equity firm specializing in applied AI and software companies.
- Investment Focus Areas: AI-driven software, data platforms, fintech.
- Notable Investments: Tractable, Shopify, FreshBooks.
3. Insight Partners
- Details: A global venture capital and private equity firm investing in high-growth software companies.
- Investment Focus Areas: SaaS, enterprise software, internet businesses.
- Notable Investments: Tractable, Twitter, Wix, Monday.com.
4. Ignition Partners
- Details: An early-stage venture capital firm focused on enterprise technology startups.
- Investment Focus Areas: Cloud software, enterprise IT, AI platforms.
- Notable Investments: Tractable, DocuSign, Splunk.
Where Is Tractable’s Headquarters?
Tractable is headquartered in London, United Kingdom, benefiting from the city’s strong AI talent pool, insurance ecosystem, and access to global enterprise customers.
What’s Next for Tractable?
Tractable is expected to deepen its presence in global insurance markets by expanding AI-driven automation across vehicle and property claims. The company will likely focus on strengthening insurer partnerships, improving model accuracy, and extending its technology into adjacent claims workflows.
With rising demand for faster and more accurate claims processing, Tractable remains positioned for sustained growth.
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