Real-Time Assessment Tech Developer Tractable AI Raises $65M

Artificial intelligence and computer vision company Tractable has raised $65 million in series E funding to accelerate its R&D capabilities and add features to its damage assessment technology. The AI technology company uses computer vision to perform condition assessments of property including cars and homes.

Tractable’s AI is trained on millions of data points and performs reviews of user-submitted photos of property captured via smartphone. The technology then recommends decisions based on damage severity. The company’s AI solutions also support the auto collision sector, accelerating repairs and enabling the reuse and resale of salvaged vehicle parts.

The company said it processes more than $7 billion in annualized auto and home repairs and acquisitions.

As part of the investment, Nahoko Hoshino, investment director for company investor SoftBank Investment Advisers, will join the Tractable board.