London InsurTech Nettle has raised $4.8 million (£3.6m) in seed funding.
Nettle was founded in 2024 by former QuantumBlack colleagues Jack Miller and Katya Kinane, who previously built and deployed AI products across insurance and financial services at McKinsey.
The firm, which has a presence in New York, says commercial insurers face increasing numbers of risks to assess with fewer experienced risk engineers available to assess them. Teams already face backlogs of up to six months, while an estimated 40% of risk engineers are expected to retire by 2030.
To solve this, Nettle has built an ‘AI workspace for loss control’. The platform brings risk identification, evidence capture, analysis and reporting into one workspace and helps insurers to complete risk inspections 5x faster and better manage risks across the policy lifecycle.
Nettle already works with insurers including Allianz and Brotherhood Mutual across Europe, the US, and Asia. Initially built for commercial property, the platform has expanded to cover all other lines including liability, construction and workers’ compensation.
It is now extending its technology to agents and policyholders, allowing insurers to collect risk data on sites they previously could not economically inspect.
The round was led by MTech, with Project A Ventures following on with a super pro rata and participation from SVV (Sure Valley Ventures), Portfolio Ventures, Ventures Together and selected angels.
It brings Nettle’s total funding to $6.8m, following its $2M pre-seed round in March 2025.
Nettle will use the funding to expand across the US and Europe, and grow its engineering and go-to-market teams.
“Nettle has built a platform that turns loss control into a competitive advantage,” said CEO Miller. “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.”
Kevin McLoughlin, founder and managing partner at MTech, added: “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 startups.”