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Groundspeed Analytics Announces $30 Million Series B Funding Led by Oak HC/FT

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Groundspeed Analytics ("Groundspeed"), a leading insurance technology
company specializing in artificial intelligence (AI) and data science
solutions to the $800 billion global commercial property and casualty
insurance industry, today announced a $30 million Series B funding round
led by Oak
HC/FT
. The investment will be used to continue to expand products
and reach as well as grow the 40-person data science and engineering
team.

Founded in 2016, Groundspeed focuses on solving the insurance industry's
toughest data challenge – unlocking the value of unstructured
information. Groundspeed Adaptive Data Pipeline™ enables its carrier,
broker, and MGA clients to improve margins, identify underwriting profit
pools, and enhance customer experience. Groundspeed's automation and
analytics platform helps eliminate 90% of administration expenses while
improving underwriting and analytics efficiency, delivering 10-times the
data with 99% accuracy.

"We are thrilled to partner with Oak HC/FT as we embark on our next
phase of growth," said Jeff Mason, Co-CEO of Groundspeed. "Given Oak
HC/FT's deep expertise in InsurTech and extensive network of industry
leaders, we are confident that this new association will help
Groundspeed aggressively expand our products and reach to help brokers
and carriers unlock the tremendous value trapped in their unstructured
information."

Andrew Robinson, Co-CEO of Groundspeed notes, "Groundspeed's Adaptive
Data Pipeline™ has proven to be incredibly powerful. The Series B
funding will allow us to continue to enhance this service and further
respond to the range of analytic products and services our clients are
asking us to provide. I couldn't be more excited to work with Jeff and
the Groundspeed team as we undertake this next step in our journey."

Prior to joining Groundspeed as Co-CEO, Andrew Robinson served as
Executive in Residence at Oak HC/FT, where he will continue as a senior
advisor to the company. Matt Streisfeld and Michael Heller of Oak HC/FT
have also joined the Board of Directors.

Streisfeld comments, "Groundspeed gives us the opportunity to invest in
a team that brings proven insurance industry expertise. We look forward
to our continued partnership with the entire Groundspeed team as we
further expand the company's footprint."

Oak HC/FT is the premier venture growth-equity fund investing in
Healthcare Information & Services ("HC") and Financial Services
Technology ("FT"). The fund and its investors contain deep domain
experience and are uniquely positioned to provide entrepreneurs and
companies with strategic counsel, board-level participation, and access
to an extensive network of industry leaders.

About Groundspeed Analytics, Inc. (Groundspeed)

Groundspeed Analytics, Inc. (Groundspeed) accelerates commercial
insurance performance with the power of machine learning and artificial
intelligence. The Groundspeed platform automatically turns loss runs,
exposure documents and policy files into actionable information,
empowering users to identify profitable pools of risk and drive better
financial outcomes. Groundspeed is privately-funded and based in Ann
Arbor and Atlanta. To learn more about Groundspeed, please visit www.groundspeed.com.

About OAK HC/FT

Founded in 2014, Oak HC/FT (http://oakhcft.com)
is the premier venture growth-equity fund investing in Healthcare
Information & Services ("HC") and Financial Services Technology ("FT").
With $1.1 billion in assets under management, we are focused on driving
transformation in these industries by providing entrepreneurs and
companies with strategic counsel, board-level participation, business
plan execution and access to our extensive network of industry leaders.
Oak HC/FT is headquartered in Greenwich, CT with offices in Boston and
San Francisco. Follow Oak HC/FT on Twitter,
LinkedIn
and Medium.

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