Augmented Reality Property Claims Venture Raises $3.9 Million

PLNAR, an augmented reality service that creates, fully measured, real-time 3D models of any room, has raised $3.9 million in a Series A investment round led by insurtech and healthcare venture capital fund ManchesterStory Group.

Additional funding came from The Venture Reality Fund and Colopl Next Inc. The financing will be used to fund PLNAR’s expansion in the insurance claims and home improvement industries.

PLNAR says its property claims technology captures “all the data necessary to virtually settle interior insurance claims by allowing the user to easily gather the full context of the damaged area including measurements, summary reports, photos and 3D models.” The platform is designed to integrate into existing insurance industry claims applications.

Th firm claims PLNAR can help insurers reduce loss adjustment expenses and overall operating expenses, while improving loss prevention and fraud detection efforts. The technology helps insurers settle small property claims faster and more efficiently by moving adjustors from off-site to a desk claims model.

“Historically, measuring rooms as part of an onsite insurance claims adjustment has been a manual process completed in difficult, sometimes dangerous, environments,” said Matt Kinley, managing partner of ManchesterStory. “Using PLNAR’s, AR-enabled, data capture system to measure and create a 3D model of the site for further assessment, improves the speed and accuracy of onsite data collection.”

For homeowners, PLNAR is currently available on the App Store and will launch on Android devices in Fall 2018.

This new funding will also be sued to support PLNAR’s expansion into home improvement markets, allowing businesses in the remodeling industry to use the PLNAR solution to digitize processes and improve the customer experience.

Smart Picture Technologies Inc. (dba PLNAR), and CEO Andy Greff, are based n Austin, Texas.

Topics Claims Property Funding