About Planck
Planck is a company based in New York (United States) founded in 2016 was acquired by Applied in July 2024.. Planck has raised $72.6 million across 6 funding rounds from investors including Applied Systems, HDI Global and Nationwide. Planck offers products and services including Planck PLUS, GenAI Assistant, and Risk Workbench. Planck operates in a competitive market with competitors including Sedgwick, Riskonnect, OpenGamma, Realeyes and Moody's Analytics, among others.
- Headquarter New York, United States
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Sectors
TechnologyFinancial Services
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Email
***********
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Phone
*********
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Website
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$72.6 M (USD)
in 6 rounds
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Latest Funding Round
$1.6 M (USD), Series D
Feb 13, 2024
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Investors
Applied Systems
& 11 more
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Employee Count
Employee Count
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Acquired by
Applied
(Jul 23, 2024)
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Products & Services of Planck
Planck offers a comprehensive portfolio of products and services, including Planck PLUS, GenAI Assistant, and Risk Workbench. 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.
Generative AI tool for commercial insurance underwriting insights
Answers questions on business risks and operations
Platform for assessing and predicting business risks
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Sales and Marketing
65 people
Leadership Team
56 people
Software Development Team
56 people
Product Management Team
37 people
Senior Team
18 people
Customer Team
12 people
Manager Team
11 people
Human Resources and Administration
11 people
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Funding Insights of Planck
Planck has successfully raised a total of $72.6M across 6 strategic funding rounds. The most recent funding activity was a Series D round of $1.6 million completed in February 2024. 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 6
- Last Round Series D — $1.6M
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First Round
First Round
(03 Jul 2018)
- Investors Count 11
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Feb, 2024 | Amount | Series D - Planck | Valuation |
investors |
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| Apr, 2023 | Amount | Series D - Planck | Valuation | IAG Firemark Ventures |
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| Sep, 2022 | Amount | Series D - Planck | Valuation | Vintage Investment Partners |
| 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 |
Investors in Planck
Planck has secured backing from 12 investors, including venture fund and institutional investors. Prominent investors backing the company include Applied Systems, HDI Global and Nationwide. 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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Multiple sectors are invested in by this corporate-backed VC fund.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location | |
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Greenfield Partners is focused on scaling early-growth technology companies.
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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 Planck
| 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 - Planck
| 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 |
Planck Comparisons
Competitors of Planck
Planck 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 Sedgwick, Riskonnect, OpenGamma, Realeyes and Moody's Analytics, 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 |
Claims administration, loss adjusting, and benefits management services are provided.
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| domain | founded_year | HQ Location |
Cloud-based risk management solutions are offered for the insurance sector.
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| domain | founded_year | HQ Location |
SaaS-based solutions for derivatives risk analytics are provided.
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| domain | founded_year | HQ Location |
AI-powered attention measurement and identity verification solutions are provided.
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| domain | founded_year | HQ Location |
Risk management software is supplied for insurance and various sectors.
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| domain | founded_year | HQ Location |
Corporate Digital Identity and KYC solutions are provided by Encompass.
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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 Planck
Frequently Asked Questions about Planck
When was Planck founded?
Planck was founded in 2016 and raised its 1st funding round 2 years after it was founded.
Where is Planck located?
Planck is headquartered in New York, United States. It is registered at New York, New York, United States.
Is Planck a funded company?
Planck is a funded company, having raised a total of $72.6M across 6 funding rounds to date. The company's 1st funding round was a Series D of $23M, raised on Jul 03, 2018.
What does Planck do?
Provider of GenAI-powered risk insights and underwriting solutions for commercial insurance. It offers a platform that leverages generative AI to analyze business risk, classify businesses, and provide insights for underwriting. The platform offers data and classifications, a risk workbench, and a chat interface to assist underwriters in risk assessment and decision-making. It provides solutions for streamlining underwriting processes, improving data accuracy, and uncovering potential risks. The companys solutions are designed for enterprise-level integration across the insurance continuum, from lead generation to policy monitoring.
Who are the top competitors of Planck?
Planck's top competitors include Sedgwick, Encompass and Riskonnect.
What products or services does Planck offer?
Planck offers Planck PLUS, GenAI Assistant, and Risk Workbench.
Who are Planck's investors?
Planck has 12 investors. Key investors include Applied Systems, HDI Global, Nationwide, Eight Roads Ventures, and IAG Firemark Ventures.