Nettle, an insurance technology business based in London and New York, has raised £3.6 million in an oversubscribed seed round led by MTech. Project A Ventures followed on with a super pro rata, with participation from Sure Valley Ventures, Portfolio Ventures, Ventures Together and selected angels. The round takes total funding to over £5 million, following a £1.5 million pre-seed in March 2025.
Commercial insurers have a loss control problem: more risks to assess, and fewer experienced risk engineers to assess them. Teams already face backlogs of up to six months, and an estimated 40% of risk engineers are expected to retire by 2030. Nettle has built an AI workspace to address that gap, pulling risk identification, evidence capture, analysis and reporting into one place. Insurers using the platform complete risk inspections five times faster, giving underwriters more timely data while risk engineers concentrate on the most complex cases.
Historically, loss control was constrained by the number of risk engineers an insurer employed. Nettle removes that ceiling by letting agents and policyholders carry out guided inspections themselves, so insurers can collect consistent risk data on sites they previously could not economically visit. AI and external data surface potential exposures before anyone attends a site.
Nettle already works with insurers including Allianz and Brotherhood Mutual across Europe, the United States and Asia. Built first for commercial property, the platform now covers other lines including liability, construction and workers' compensation. For enterprise buyers, it supports cloud and on-premise deployment, regional data residency and enterprise-grade security.
Nettle was founded in 2024 by Jack Miller and Katya Kinane, former QuantumBlack colleagues who previously built and deployed AI products across insurance and financial services at McKinsey. Funding will go towards expansion across the United States and Europe, and growing the engineering and go-to-market teams.
Nettle has built a platform that turns Loss Control into a competitive advantage. The purpose has always been to prevent losses, but insurers can only act on the risks they understand. Too often, that understanding is limited by the capacity of their teams, and that's the ceiling we're removing. Our AI workspace gives insurers the tools to bring more of the portfolio into view, either through risk engineers, agents, or even policyholders. This round lets us take what we've proven across three continents, with extremely positive feedback, and scale it everywhere our customers operate.
Nettle has built a next-generation platform for risk engineers in their assessment of site risk for large commercial customers. Using generative AI, top global insurers are adopting the Nettle platform, which requires minimal integration effort, to transform physical data collection and analyses for large commercial risks. We are very impressed with Nettle's success to date and the deep experience the founders bring to an area of insurance often overlooked by start-ups.
