Reask

Reask develops climate forecasting tools, hazard models, and event response applications using AI, machine learning, and high-performance computing.

The company’s product portfolio includes DeepCyc, ForeCyc, HindCyc, and Metryc.

1) DeepCyc - Global Probabilistic Hazard Model, provides a high-resolution view of tropical cyclone risk globally. 2) ForeCyc – Climate-Adjusted Probabilistic Hazard, provides forecast view of climate driven models. 3) HindCyc – Tropical Cyclone Hazard Event Response, leverages Reask’s machine learning wind model and provides high-resolution footprints of landfall. 4) Metryc – Tropical Cyclone Calculation Agent, provides a calculation agent for the parametric insurance industry.

Key customers and partnerships

In September 2021, Reask entered into an agreement with ImageCat, a risk management company, to leverage its HindCyc and DeepCyc solutions via ImageCat’s Inhance (a suite of analysis tools) and FACFinder (an exposure aggregation and hazard mapping platform) solutions across the insurance industry. In February 2022, the company partnered with Descartes Underwriting, a parametric insurance company, to expand global cyclone parametric coverage by optimizing Reask’s wind speed data. In August 2022, Reask entered into a strategic partnership with Fathom, a flood risk modeling provider, to develop new hazard data maps and catastrophe risk models covering floods, tropical cyclones, and hurricanes. In March 2024, the company announced a parametric windstorm insurance partnership with AXA Climate, a climate risk insurance broker.

Reask’s risk modeling solutions and climate simulations are adopted by leading clients such as SwissRe, Suncorp, Twelve Capital, Securis Investment Partners, and AXA.

Funding and financials

Reask’s most recent funding round was in June 2023, when it raised USD 4.6 million as the second tranche of its seed funding round co-led by Mastry Ventures and Collaborative Fund. Previously in January 2022, the company closed its first tranche of its seed funding round led by Tencent. The funds were intended to support Reask’s growth, development of its next-gen AI-based climate models and to expand its team internationally to serve customers in growing markets.