Raincoat: AI climate insurance in Puerto Rico, secures $150k.

July 6, 2024
1 min read



TLDR:

  • Raincoat, an AI climate insurance startup in Puerto Rico, receives $150k award from Google
  • Founded in 2018 by Jonathan González, Raincoat specializes in scalable climate insurance solutions using AI

Raincoat, a startup based in Puerto Rico, has received a significant financial boost with a $150k award from Google. This funding forms part of the Google for Startups Founders Funds program. The company, founded by Jonathan González in 2018, specializes in developing scalable climate insurance solutions that utilize AI to manage and process individual claims instantly. Raincoat was chosen among 20 Black and Latino entrepreneurs to receive cash awards, Google Cloud credits, and mentorship resources.

The platform created by Raincoat connects insurance, reinsurers, distributors, and end-users to deliver climate protection and resilience for everyone. Each founder in the Google program, including Raincoat, will benefit from $150,000 in non-dilutive cash awards and $100,000 in Google Cloud credits. These resources are supplemented with access to mental health support and expertise from Google’s AI and sales teams.

Maya Kulycky, vice president of Strategy and Operations at Google Research, expressed pride in investing in promising Black and Latino founders who are using AI technology to address pressing issues. She highlighted the groundbreaking work of these founders and their potential to shape the future of AI.


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