You save for months to be able to go on a fun holiday, and then you are stuck in an apartment for nine days, hoping the little umbrella on your drink will help against the rain. Sound familiar and disappointing? A product to save the day was raised $12 million by Sensible Weather.
You pay for the insurance policy, and if the snow is too watery, your outdoor concert is washed out, or you get caught in the rain, they have your back. The company wouldn't say if it would pay out if the sun shines when you prefer being in the rain.
Nick Cavanaugh, founder and CEO of Sensible Weather, said that the Weather Guarantee attach rates are approaching 50% in early partner channels. With climate increasingly impacting vacations and outdoor experiences, Sensible's Weather Guarantees offers consumers peace of mind when booking reservations online by giving them the option to recover their losses when bad weather affects plans.
Thousands of Weather Guarantees have been sold via its growing roster of partners. If a weather event, such as rain, is predicted to occur during the covered experience, Sensible automatically sends a reimbursement. Guarantee payments are processed immediately if the experience is negatively impacted by the weather.
The new capital will allow Sensible to grow its deep pool of top engineering and scientific talent, accelerate the development of its proprietary climate data and risk analytics platform, and expand its Weather Guarantee offering into international markets.
The round was led by San Francisco-based Infinity Ventures, with participation from Certares Venture, existing investors Wonder Venture and Group1001, as well as executives fromAirbnb, Pacaso, Plaid and Toast.
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