Unlocking Flood Resilience: Previsico Secures £2M in Funding
September 25, 2023
Previsico, a UK-based company specialising in flood prediction and prevention, has recently secured £2 million in funding, bringing their total funding to £4.5 million. This investment round was led by 24Haymarket and Foresight Group, reflecting the growing interest in innovative climate solutions.
Led by CEO Jonathan Jackson, Previsico offers a cutting-edge flood forecasting platform that assists insurers, businesses, and government agencies in mitigating losses during flood events. Built upon two decades of research at Loughborough University, the Flood Dashboard provides real-time forecasts accessible from any web browser, empowering users to visualise and respond to flood situations effectively.
The platform integrates data from various sources, including the Met Office and IoT devices, to provide comprehensive insights into flood risks. Notably, it presents forecasts for multiple flood perils, such as surface water and ordinary water course flooding, alongside government warnings, enabling users to coordinate their response efforts efficiently.
With clients including major corporations like Network Rail and leading insurers such as Zurich, Previsico has established itself as a key player in flood risk management. Its solutions have been instrumental in helping businesses and communities prepare for and respond to flooding, reducing the economic and social impact of these natural disasters.
Professor Dan Parsons, Loughborough University Pro Vice-Chancellor for Research and Innovation, commended Previsico's contributions to flood resilience, highlighting the importance of such technology in addressing the escalating risks posed by climate change. He emphasized the potential of Previsico's platform to enhance global resilience to flooding, a sentiment echoed by CEO Jonathan Jackson.
The recent funding round signifies not only financial support but also validation of Previsico's vision to expand its reach and impact. David Marock, Chairman of Previsico, expressed excitement about the company's growth prospects, emphasising plans to enter the US market and further enhance flood resilience worldwide.
Paul Hewitt, investor director at 24Haymarket, praised Previsico's technology for its ability to not only mitigate losses but also reduce the negative social impact of flooding. This recognition underscores the broader societal benefits of innovative solutions like Previsico's Flood Dashboard.
As climate change continues to exacerbate flood risks globally, investments in technologies like Previsico's are becoming increasingly crucial. By providing early warnings and empowering stakeholders to take proactive measures, these solutions play a vital role in building resilience and protecting communities from the devastating effects of flooding.
In conclusion, Previsico's latest funding round underscores the growing importance of flood prediction and prevention technologies in addressing the challenges posed by climate change. With continued support and innovation, companies like Previsico are poised to make significant strides in enhancing flood resilience and safeguarding communities worldwide.