Startup Of The Week

Startup Of The Week: Tractable

Startup Of The Week: Tractable
Tractable Founders: CEO Alex Dalyac (Left), CTO Razvan Ranca (Middle), President Adrien Cohen (Right)

Tractable, a software-as-a-service startup, uses computer vision to help insurance companies identify damage and predict repair costs.

The UK startup’s technology is being used to analyze vehicle damage by a number of multinational insurance firms, including Ageas in the UK, France’s Covéa and Japan’s Tokio Marine.

Tractable’s AI is trained on millions of examples, allowing identification of damage and prediction of repair costs, with the aim of improving appraisal efficiency and customer experience.

“Every single insurance company that has comprehensively tested how Tractable could help them has gone on to become a customer,” says Adrien Cohen, co-founder and president of Tractable.

The company, which raised $25 million in venture capital in late February, bringing the total raised to $55 million, operates in Europe, North America and Japan. The company said the new round of financing will be used to expand in existing markets and enter new markets in Southeast Asia and Latin America with the goal of becoming the global market leader in auto damage AI.

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About the author

Jennifer L. Schenker

Jennifer L. Schenker, an award-winning journalist, has been covering the global tech industry from Europe since 1985, working full-time, at various points in her career for the Wall Street Journal Europe, Time Magazine, International Herald Tribune, Red Herring and BusinessWeek. She is currently the editor-in-chief of The Innovator, an English-language global publication about the digital transformation of business. Jennifer was voted one of the 50 most inspiring women in technology in Europe in 2015 and 2016 and was named by Forbes Magazine in 2018 as one of the 30 women leaders disrupting tech in France. She has been a World Economic Forum Tech Pioneers judge for 20 years. She lives in Paris and has dual U.S. and French citizenship.