The Demex Group

Overview
News
Climate Risk Analytics?
Product stageSegments
Early
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Long-term climate risk analytics: Parametric insurance
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Demex offers custom-fit winter weather management solutions using hyper-local snowfall patterns, customized climate risk assessment using parametric models, and parametric weather insurance solutions.

The company’s innovative solution offering includes, Demex Snow Solutions, Demex Extreme Weather Insurance, and Demex Climate Appraisals. In August 2022, Demex launched parametric snow insurance underwritten by Evanston Insurance Company. This solution stabilizes operational budgets linked to snowfall. In August 2023, the company launched its Retained Climate Risk Reinsurance (RCR Re) solution designed for severe thunderstorms.

Key customers and partnerships

In December 2020, the company collaborated with an enterprise blockchain company, Blockchain Technology Partners (BTP), to automate blockchain and smart contract infrastructure, through the latter’s Sextant for DAML, a management platform. In November 2021, Demex partnered with Vave, an algorithmic underwriting and insurance API platform, to offer customers enhanced insurance coverage of up to USD 1,000 of immediate cash. 

Funding and financials

The company’s most recent funding was in August 2023 when it raised USD 5 million in a venture round led by Blue Bear Capital, to bring the Retained Climate Risk Reinsurance (RCR Re) solution to the market. Earlier in December 2021, the company raised USD 9 million in a Series A funding round led by Anthemis Group, Blue Bear Capital, and QBE Ventures. The proceeds were to be utilized to further develop the company’s parametric insurance models and solutions. 

HQ location:
Washington DC USA
Founded year:
2020
Employees:
11-50
IPO status:
Private
Total funding:
USD 28.5 mn
Last Funding:
USD 10.3 mn (Series A; Sep 2024)
Last valuation:
-
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