Company:Tractable
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| Industry | Artificial Intelligence |
|---|---|
| Founded | 2014 |
| Founder | Alex Dalyac, Razvan Ranca, Adrien Cohen |
| Headquarters | New York, NY , |
Number of employees | over 300[1] (2021) |
| Website | tractable.ai |
Tractable is a technology company specializing in the development of Artificial Intelligence (AI) to assess damage to property and vehicles.[2][3] The AI allows users to appraise damage digitally.[4][5]
Technology
Tractable's technology uses computer vision and deep learning to automate the appraisal of visual damage in accident and disaster recovery, for example to a vehicle.[6] Drivers can be directed to use the application by their insurer after an accident, with the aim of settling their claim more quickly.[7] The AI evaluates the damage from images, and therefore doesn't assess what isn't visible (such as, for example, interior damage to a vehicle or property).[8]
History
Alexandre Dalyac and Razvan Ranca founded Tractable in 2014, and Adrien Cohen joined as co-founder in 2015.[9] The company employs more than 300 staff members, largely in the United Kingdom .[1]
Tractable was named one of the 100 leading AI companies in the world in 2020 and 2021 by CB Insights.[10] It won the Best Technology Award in the 2020 British Insurance Awards.[11]
In June 2021, Tractable announced a venture round that valued the company at $1 billion.[12] Tractable was the UK's 100th billion-dollar tech company, or unicorn.[13]
In July 2023, the company received a $65 million investment from SoftBank Group, through its Vision Fund 2.[14]
References
- ↑ 1.0 1.1 Martin, Iain. "U.K. Computer Vision Startup Tractable Reaches Unicorn Status". https://www.forbes.com/sites/iainmartin/2021/06/16/uk-computer-vision-startup-tractable-reaches-unicorn-status/?sh=1985ebe13fd1.
- ↑ O'Hear, Steve. "Tractable is applying AI to accident and disaster appraisal". https://techcrunch.com/2018/07/31/tractable/.
- ↑ Ghosh, Shona. "Tractable hits $1 billion valuation by using AI to 'see' auto damage, as computer vision matures". https://www.businessinsider.com/computer-vision-startup-tractable-1-billion-valuation-2021-6?r=US&IR=T.
- ↑ Volpicelli, Gian. "Had a car crash that wasn't your fault? This AI has the answers". Wired. https://www.wired.co.uk/article/car-crash-tractable-ai. Retrieved 20 May 2020.
- ↑ Scism, Leslie. "Geico to Use Artificial Intelligence to Speed Up Car Repairs". https://www.wsj.com/articles/geico-to-use-artificial-intelligence-to-speed-up-car-repairs-11621944000.
- ↑ Gardiner, Mark. "A Car Insurance Claim Estimate Before the Tow Truck Is Called". https://www.nytimes.com/2020/09/17/business/car-insurance-claim-estimate-artificial-intelligence.html.
- ↑ Scism, Leslie. "Insurer Looks to Shorten Time From Car Wreck to Body Shop". https://www.wsj.com/articles/insurer-looks-to-shorten-time-from-car-wreck-to-body-shop-11611810061?mod=hp_lead_pos10.
- ↑ Ghosh, Shona. "A fast-growing startup is winning over big auto insurers like GEICO by using artificial intelligence to speed up car repairs". https://www.businessinsider.com/ai-startup-tractable-geico-auto-insurers-speed-up-repairs-2021-5?r=US&IR=T.
- ↑ Dalyac, Alex. "How we built an AI unicorn in 6 years". https://techcrunch.com/2021/07/20/how-we-built-an-ai-unicorn-in-6-years/.
- ↑ "AI 100: The Artificial Intelligence Startups Redefining Industries". https://www.cbinsights.com/research/artificial-intelligence-top-startups.
- ↑ "British Insurance Awards 2020: The winners". https://www.postonline.co.uk/commercial/7708656/british-insurance-awards-2020-the-winners.
- ↑ Kahn, Jeremy. "A.I. insurance firm Tractable marks 'unicorn' status as it expands from cars into property claims Fortune". https://fortune.com/2021/06/16/tractable-unicorn-fundraise-insuretech-cars-to-property/.
- ↑ Willems, Michiel. "Unicorn nest: UK hits milestone of 100 $1bn tech companies, more than rest of Europe combined". https://www.cityam.com/unicorn-nest-uk-hits-milestone-of-100-1bn-tech-companies-more-than-rest-of-europe-combined/.
- ↑ Khan, Mehreen (2023-07-18). "SoftBank invests $65m in British 'insurtech' firm" (in en). The Times. ISSN 0140-0460. https://www.thetimes.co.uk/article/softbank-invests-65m-in-british-insurtech-firm-j2l6zr2gb.
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