Starr Companies and Allstate have contributed to an $18 million financing round for Amenity Analytics, a startup developing cloud-based analytics designed to help businesses analyze text on a massive scale.
The New York-based startup said that both Starr and Starr CEO Maurice Greenberg led the round. Allstate also joined in along with existing investors Intel Capital and State of Mind Ventures.
Amenity describes its platform as “using natural language processing (NLP) to help institutional investors, insurance companies, media organizations and others to rapidly process and comprehend complex text documents and uncover real-time, actionable insights.” The company said the technology can quickly spot key commentary/statements executives could use to assist in making business decisions and gauge sentiment among a given audience.
Amenity Analytics CEO Nathaniel Storch said in prepared remarks that the commitments from Starr, Greenberg and Allstate “demonstrate the power of our platform” in insurance.
Storch said the new financing will help fuel hiring as well as an expansion of where its technology can be used.
Source: Amenity Analytics
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