Michigan based maker of software for the property and casualty insurance industry raised an undisclosed amount of Series C funding led by Insight Partners.
"The investment from Insight Partners, the leading ScaleUp software investor, and continued partnership from Oak HC/FT speaks to the momentum we have achieved as the leader in submission intelligence solutions for commercial P&C, and the growth opportunities we see ahead," said Jeff Mason, Groundspeed's Founder and Chief Executive Officer. "The commercial insurance industry is working to digitize many of its core processes, including those for submission and underwriting. We are seeing increasing demand from our customers to automate the extraction and enhancement of data to support their digitization efforts. Equally, customers are seeking deeper insights from that data and we are well-positioned to help in both efforts."