Accurate Climate Risk Data: Reask Secures $4M Investment

Reask Raises $4 Million to Enhance Climate Risk Data and Support Vulnerable Communities

Australian climate risk modeling startup Reask has secured $4 million to continue its aim to provide safe and dependable weather risk information to business, government, and community. Reask will use the new funds to further increase its tropical cyclone simulation capability and other intense weather activity simulation, leveraging its ability to generate accurate and usable climate risk data at scale.

The financing round was led by InsuResilience Investment Fund Private Equity II (IIF II), a global impact investor, advised by BlueOrchard Finance. The investment will enable Reask to expand its platform, leveraging advanced climate science and artificial intelligence (AI) to help clients more effectively analyze and manage the financial implications of extreme weather events.

Reask's New Methodology for Modeling Climate Risk
As opposed to other location-based models, Reask uses dynamic climate physics to deliver global climate risk data, the only model of its kind in the industry. In this way, Reask is better able to deliver more accurate and inclusive weather risk intelligence, enabling its clients—insurers, asset managers, and governments—to make better catastrophe risk and financial exposure decisions.

The innovation strategy of the company enables businesses to monetize climate risk, determine insurance premiums, and create parametric insurance products tailored to regions affected by hurricanes, tropical cyclones, and other severe weather. This reduces the economic burden of climate change, especially for vulnerable and poor communities that require it most.

Satisfying the Increasing Demand for Climate Risk Information
The investment is made against the backdrop of climate change continuing to pose a significant threat to the world's insurance industry. The industry experienced $135 billion of insured climate losses in 2024 alone. The absence of good-quality, dependable climate risk data has deterred most organizations from making effective risk estimates or applying the correct insurance premiums. Reask's technology fills this gap by offering firms and insurers the means to meet and deal with climate risk exposure.

Reask's data solutions are already being applied to educate industries significantly vulnerable to extreme weather, such as insurance, asset management, and government planning. By giving companies useful information on weather risk, the platform is a key driver to enhance organizations and communities suffering from the economic effects of climate change.

Helping Vulnerable Populations
One of the Reask founding missions is to make climate risk data available to assist in safeguarding vulnerable populations. By enabling more transparency of severe weather risks, the platform by the company enables threatened groups to respond proactively and make more informed decisions. The collaboration of Reask with BlueOrchard demonstrates the common mission to create a stronger world with reduced-cost and increased-access climate insurance.

Jamie Rodney, Reask CEO, welcomed the investment and partnership with BlueOrchard, saying the deal will allow the company to grow its product line and growth. He further said that the investment will also allow Reask to shield vulnerable communities from the devastating economic effects of severe weather patterns.

BlueOrchard's Backing of Impactful Investments
BlueOrchard Senior Investment Director Ernesto Costa pointed to Reask's data products as the killer application for the climate insurance industry. He stated Reask's mission is one BlueOrchard shares in its own higher mission to create a more resilient world by making climate insurance affordable and available. The two companies will collaborate closely in an attempt to scale up Reask's impact while driving down the cost of climate change.

The Future of Climate Risk Data
Reask's pioneering application of AI and climate science places it at the forefront of the fast-changing climate risk modeling market. The company's focus on delivering actionable, high-quality data will be invaluable as governments and companies increasingly need to contend with the economic implications of climate change.

With the capacity to mimic tropical cyclones and other severe weather phenomena, Reask is well-placed to address rising demand for accurate climate risk data. As more organisations are relying on climate technology solutions to understand and counter the effects of severe weather, Reask's platform will play a critical role in assisting them to manage their exposure to risk.

Conclusion
The $4 million funding increase by Reask will assist the company in further advancing its climate risk modeling technology and expanding its presence in other industries. With accurate and actionable weather risk data, Reask is assisting businesses, governments, and vulnerable populations in preparing for and responding to climate change risks. As the demand for reliable climate risk data continues to rise, Reask's creative solutions can go a long way in creating a more resilient and sustainable future.

Source: Reask