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Real-Time Assessment Tech Developer Tractable AI Raises $65M

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Artificial intelligence and computer vision company Tractable has raised $65 million in series E funding to accelerate its R&D capabilities and add features to its damage assessment technology. The AI technology company uses computer vision to perform condition assessments of property including cars and homes.

Tractable’s AI is trained on millions of data points and performs reviews of user-submitted photos of property captured via smartphone. The technology then recommends decisions based on damage severity. The company’s AI solutions also support the auto collision sector, accelerating repairs and enabling the reuse and resale of salvaged vehicle parts.

The company said it processes more than $7 billion in annualized auto and home repairs and acquisitions.

As part of the investment, Nahoko Hoshino, investment director for company investor SoftBank Investment Advisers, will join the Tractable board.
Jul 2023
machine vision
Interpretation of an image of an object or scene through the use of optical noncontact sensing mechanisms for the purpose of obtaining information and/or controlling machines or processes.
artificial intelligence
The ability of a machine to perform certain complex functions normally associated with human intelligence, such as judgment, pattern recognition, understanding, learning, planning and problem solving.
Businessfundingmachine visioncomputer visionartificial intelligenceinspectiondamagecarhomeTractableAIinvestmentSeries EAmericas

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