CDL-Wisconsin is proud to be represented by the following CDL alumni ventures. Together, these 8 ventures from our 2020/21 inaugural cohort have raised more than USD $25M since their acceptance to the CDL program.
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HazardHub is a Data as a Service (DaaS) company that has built property-level hazardous risk databases that use artificial intelligence to model risk scores of a specific property in less than one second. This provides a comprehensive view of what might destroy and damage property (properties) including perils such as wind, hail, tornado, lightning, flood, coastal, earthquake, fire and more. HazardHub can deliver 800 (and growing) hazard risks and 160 property characteristic data elements (plus images) in a single API call.
Last Lock’s self-powering smart cylinder allows business owners to transform any mechanical lock system into a highly secure smart lock. Once installed, users can program permanent or temporary access to any existing physical keys, RFID devices, or smartphones. Electronic sensors in the smart cylinder scan and store the physical keys’ profiles, allowing owners to digitally manage, track, and grant access. Last Lock started a pilot at the University of Wisconsin – Madison right before COVID hit (one lock), and is undergoing small-scale residential pilot testing in Minneapolis, Madison, and Milwaukee.
MinervaAI has developed an anti-money laundering investigation search engine that reduces manual research and data collection and synthesis from the manual 7.5 hours to about 3 minutes through the use of proprietary technology, deep learning, natural language processing and sentiment analysis. The target market is financial services (traditional and neobanking), however, all business verticals that are subject to financial crime regulations (law, insurance, real estate, gambling) can benefit from MinervaAI.
Opterrix is a software platform that optimizes and automates critical workflows throughout the insurance value chain; improving combined ratios, reducing expenses, and driving higher customer satisfaction. Opterrix does this by ingesting essential core data sets, fusing them with external data services (real-time weather, property/environmental attributes, social media, etc.) and adding predictive automation, analytics, and visualization.
Pythonic provides software that processes unstructured data and automates workflows replacing human document review. More precisely, they develop and customize context-aware AI solutions for specific workflows by extracting meaning from unstructured text. To date, they have developed solutions specifically tailored to the title/escrow/closing market and the life/disability insurance underwriting market.
RoofMarketplace is a platform for insurance carriers to provide roof repair scope-of-work details to certified contractors and receive back market-priced bids within 24 hours, without the contractor having to go onsite. On average, the RoofMarketplace ‘market’ saves insurance carriers 13% over traditional cost estimators, while also saving contractors time and money.
TrustLayer has developed software that helps companies in any value chain verify if their suppliers, vendors or borrowers have the prerequisite insurance to conduct business. Currently, the process of validating insurances in the value chain is a highly manual and inefficient process that happens hundreds of millions of times per year (in the U.S. alone). TrustLayer uses robotic process automation and AI to automate the process. Nearly every business must provide evidence of insurance to their business partners (i.e., construction subcontractor, facilities management company, equipment leasing contract, home mortgages, auto loans, etc.)
Yields.io’s mission is to embed trust in an algorithm-driven world. It has developed Chiron, a data science platform designed to streamline Model Risk Management. Chiron enables companies to eliminate bias, answer regulatory demands, and reduce the risk of loss resulting from inaccurate models. Yields.io focuses on global top tier banks (such as HSBC, BNP Paribas and Raiffeisen Bank International – all current clients) and regional banks with a balance sheet of at least $25B USD. Yields has also established a partnership with KPMG.
Congratulations to these ventures on their completion of the Creative Destruction Lab program!
Are you working on a technology or have you recently launched a tech startup?
Consider applying for the Creative Destruction Lab! The CDL application period will open for the 2022/23 cohort in March 2022. Please check back for more details at that time, or email us if you’re a venture founder interested in hearing from the CDL-Wisconsin team when applications are live.