Insurance tech startup Cape Analytics raises $14m to expand US team

Cape Analytics has secured $14 million in a round led by venture firm Formation 8, with Shirish Sathaye, one of its general partners, joining the startup's board of directors. Other investors contributing to this round include Data Collective, XL Innovate, Lux Capital, Khosla Ventures, Promus Ventures, and Montage Ventures. This is the first time Cape Analytics has raised external investment. The funding will be used to expand the startup's engineering and sales teams across the US. Founded in 2014 by Ryan Kottenstette and Suat Gedikli, Cape Analytics combines computer vision, geospatial imagery, and machine learning to extract property data.