BROOKLYN, N.Y., Feb. 24, 2025 /PRNewswire/ — Floodbase, the parametric platform for insuring uncovered flood risk, today announced a $5 million investment led by Ecosystem Integrity Fund (EIF) with participation from Pulse Fund. The investment will allow Floodbase to accelerate development of flood insurance programs, cementing its position as the industry standard for a new category of flood insurance.

Flooding is the most common and pervasive natural disaster, yet 83% of global economic flood loss over the past decade was uninsured. Hurricane Helene was the single most devastating natural catastrophe event in 2024, estimated to have caused $75 billion in economic loss, mainly due to flooding. Season after season, businesses and local governments are left to navigate financial uncertainty and millions of dollars in damages, lost revenue, and recovery expenses. The expected increase in flood intensity and frequency only amplifies the need to address uninsured risks and secure rapid funds as floods happen.

“Flood insurance has typically been limited to direct property damage, which only represents a fraction of the overall economic loss” said Bessie Schwarz, Co-founder and CEO of Floodbase. “We’re enabling a financial safety net that can cover any economic loss associated with a flood event. Not only does this remove uncertainties around what’s covered, the fast and flexible liquidity is a game changer for those managing the aftermath”.

Since its series A in 2023, Floodbase has operated across 40+ countries and enabled more than 9,000 flood insurance policies, becoming a preferred partner for leading re/insurers including Swiss Re Corporate Solutions, Liberty Mutual Re, and AXA Climate. Floodbase’s platform, built on a decade of groundbreaking peer-reviewed science, continuously monitors flooding globally, allowing the company to power flood insurance programs across industries and geographies.

Schwarz added, “With the growing demand for new flood insurance programs, we are thrilled to partner with EIF to accelerate our growth. We’ve known EIF for a long time and are excited to formalize our partnership. With their support, we’ll continue to lead and empower the market to close the global flood protection gap.”

“New solutions are urgently needed to adapt to an increasingly volatile climate. The frequency and severity of floods is growing, adding to the already tremendous global flood protection gap. Floodbase can power a new category of flood insurance products and has become the preferred platform for its insurance partners. We are thrilled to be partnering with the company to help accelerate the growth of their critical resiliency offering,” said Sasha Brown, Partner at Ecosystem Integrity Fund.

“By funding adaptation projects and cutting edge climate tech companies like Floodbase, Pulse Fund aims to bolster resilience and enhance the economic security of communities. Floodbase’s platform enables a much needed, new category of flood insurance products at a time when historic flood events, and the financial devastation they cause, are becoming the norm,” said Pulse Fund Founder and Managing Partner, Tenzin Seldon.

This investment highlights Floodbase’s success amid the persistent underfunding of women-led startups. In 2023, only 2% of venture capital went to companies founded by women, with that figure dropping to 1.9% in early 2024, according to PitchBook. Co-founded by Bessie Schwarz and Dr. Beth Tellman, Floodbase has now raised $17 million in venture capital, including Collaborative Fund, Floating Point, Lower Carbon Capital, and Vidavo Ventures, defying this trend and setting an example for diversity in tech innovation.

About Floodbase
Floodbase is a parametric platform for insuring uncovered flood risk. Built on more than a decade of groundbreaking science, we continuously monitor flooding worldwide. Leading re/insurers rely on Floodbase to cover large corporate and public sector clients against previously uninsurable economic loss from flooding. Floodbase also supports FEMA, the UN, The New York Times, and others to identify and respond to major events. Follow Floodbase on LinkedIn for more news and insights.

About Ecosystem Integrity Fund
Ecosystem Integrity Fund (EIF) invests in early growth-stage companies contributing to environmental sustainability across multiple sectors including renewable energy, transportation, agriculture and food, climate resilience, green chemistry, waste reduction, and efficiency. EIF takes a systems-based approach to sustainability investment, studying both the drivers for change as well as the constraints to innovation in market niches that are ripe for development. EIF invests in companies solving real problems, resulting in better investment opportunities and greater impact. The firm has over $600 million in assets under management.

About Pulse Fund
Pulse Fund is a venture capital fund investing in high-growth climate companies. Pulse invests horizontally across 4 key verticals: food and agriculture, infrastructure, energy, and mobility. The fund is focused on scalable, vertically-integrated companies that offer superior margins, outsized financial wins, and supply chain risk mitigation. The team brings together a unique blend of investment and climate science expertise to identify long-term opportunities that drive capital, innovation and tangible climate progress.

SOURCE Floodbase

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