BERKELEY, Calif. & BOSTON–(BUSINESS WIRE)–KatRisk, a leading global catastrophe modeling software company, is pleased to announce a significant strategic growth investment from global private equity firm TA Associates (“TA”).
Founded in 2012, KatRisk is a provider of industry leading simulation software designed to quantify risk from global weather extremes, such as floods, storm surges, hurricanes, hail, wildfires and tornadoes. The Company’s innovative solutions, including SpatialKat and SoloKat, are used by some of the largest insurance, reinsurance and financial services companies around the world to assess potential catastrophe impacts.
“We couldn’t be more excited to work alongside TA to expand our product offerings and better serve our clients with additional resources,” said Dag Lohmann, CEO of KatRisk. “Our recent 5.0 release of SpatialKat covers Australia & New Zealand with TC wind, storm surge, inland flood and hail (US). We are also working to add more perils, such as wildfire & tornado, that we plan to release soon via hazard maps, APIs, our location-level loss product SoloKat, and our industry-leading SpatialKat platform. We are grateful to our clients for their continued collaboration as we begin the next chapter of our growth journey.”
“TA’s investment shows deep confidence in our solutions and further validates our mission to deliver exceptional value to clients on a daily basis,” said Guy Morrow, President of KatRisk. “With TA’s support and significant experience scaling software companies, we look forward to meaningfully expanding and advancing our solutions to meet the evolving needs of our customers.”
“We are deeply impressed by KatRisk’s best-in-class catastrophe modeling software, and believe the Company is uniquely positioned to drive meaningful impact at scale,” said Charles Ha, Senior Vice President of TA. “We look forward to partnering closely with Dag, Guy, Swami, Brandon and the entire global KatRisk team to support their platform enhancements.”
“TA has a long history of partnering with founder-owned software companies and decades of sub-sector expertise in risk management and simulation modeling, particularly businesses focused on natural catastrophes and global climate change like our recent investment in Technosylva,” said Ashu Agrawal, Managing Director at TA. “We are excited by this opportunity to support KatRisk’s continued journey.”
KatRisk is a leading catastrophe modeling software company with more than 70 global clients. Founded in 2012, KatRisk quantifies risk from global weather extremes, such as floods, storm surges, hurricanes, hail, wildfires, and tornadoes. KatRisk’s industry leading simulation software platform SpatialKat allows customers to model the impacts of climate change, such as sea level rise and changes in extreme precipitation. KatRisk’s unique open data platform and category-leading low execution times make it possible for insurance, reinsurance & financial services companies to assess potential catastrophe impacts on portfolio management & underwriting decision-making. For more information, visit www.katrisk.com.
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries—technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.