About Groundspeed
Groundspeed is a company based in Ann Arbor (United States) founded in 2016 was acquired by Insurance Quantified in June 2023.. Groundspeed has raised $32 million across 3 funding rounds from investors including Insight Partners, Oak HC/FT and ManchesterStory Group. The company has 71 employees as of December 31, 2022. Groundspeed offers products and services including Groundspeed AI, Document Ingestion, AI Data Labeling, Automated Enrichment, and Triage and Prioritization. Groundspeed operates in a competitive market with competitors including Livegenic, ViewSpection, Photocert, ClaimForce and Sentrys, among others.
- Headquarter Ann Arbor, United States
- Employees 71 as on 31 Dec, 2022
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Groundspeed Analytics, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$32 M (USD)
in 3 rounds
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Latest Funding Round
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Investors
Insight Partners
& 5 more
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Employee Count
71
as on Dec 31, 2022
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Acquired by
Insurance Quantified
(Jun 22, 2023)
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Products & Services of Groundspeed
Groundspeed offers a comprehensive portfolio of products and services, including Groundspeed AI, Document Ingestion, AI Data Labeling, Automated Enrichment, and Triage and Prioritization. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Automates submission data ingestion and processing for insurance.
Ingests and classifies data from emails and documents via API.
Classifies and structures insurance data using AI models.
Normalizes and enriches data with predictive models.
Prioritizes and routes submissions based on business rules.
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Funding Insights of Groundspeed
Groundspeed has successfully raised a total of $32M across 3 strategic funding rounds. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Last Round
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First Round
First Round
(04 Apr 2017)
- Investors Count 5
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jan, 2021 | Amount | Series C - Groundspeed | Valuation | Insight Partners | |
| Jul, 2018 | Amount | Series B - Groundspeed | Valuation | Oak HC/FT |
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| Apr, 2017 | Amount | Series A - Groundspeed | Valuation | ManchesterStory Group |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Groundspeed
Groundspeed has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include Insight Partners, Oak HC/FT and ManchesterStory Group. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Investment firm scaling software and technology companies from early to late stages.
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Founded Year | Domain | Location | |
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Investments are made in early-stage healthtech and fintech startups.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Groundspeed
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Groundspeed
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Groundspeed Comparisons
Competitors of Groundspeed
Groundspeed operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Livegenic, ViewSpection, Photocert, ClaimForce and Sentrys, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Mobile app for customer engagement
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| domain | founded_year | HQ Location |
Property insurance data is shared collaboratively among agents and underwriters.
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| domain | founded_year | HQ Location |
White-label mobile solutions for insurance claim photo certification are offered.
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| domain | founded_year | HQ Location |
Operates an online marketplace for claim services to assist users.
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| domain | founded_year | HQ Location |
Provides a data security platform for effective claims and fraud management.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Groundspeed
Frequently Asked Questions about Groundspeed
When was Groundspeed founded?
Groundspeed was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Groundspeed located?
Groundspeed is headquartered in Ann Arbor, United States. It is registered at Ann Arbor, Michigan, United States.
Is Groundspeed a funded company?
Groundspeed is a funded company, having raised a total of $32M across 3 funding rounds to date. The company's 1st funding round was a Series A of $2M, raised on Apr 04, 2017.
How many employees does Groundspeed have?
As of Dec 31, 2022, the latest employee count at Groundspeed is 71.
What does Groundspeed do?
Groundspeed was founded in 2016 in Ann Arbor, United States, and operates within the insurance technology sector. A platform is provided to commercial insurance brokers for automating loss run and claim data handling. Data is requested, received, processed, and analyzed from carrier PDFs and various document formats. Key metrics on customers, carriers, policies, and coverages are displayed to support broker operations.
Who are the top competitors of Groundspeed?
Groundspeed's top competitors include ViewSpection, Livegenic and Photocert.
What products or services does Groundspeed offer?
Groundspeed offers Groundspeed AI, Document Ingestion, AI Data Labeling, Automated Enrichment, and Triage and Prioritization.
Who are Groundspeed's investors?
Groundspeed has 6 investors. Key investors include Insight Partners, Oak HC/FT, ManchesterStory Group, Tappan Hill Ventures, and Michigan Angel Fund.