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

NEW YORK, July 31, 2023 — 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.

Published: July 2023

Glossary

machine vision: Machine vision, also known as computer vision or computer sight, refers to the technology that enables machines, typically computers, to interpret and understand visual information from the world, much like the human visual system. It involves the development and application of algorithms and systems that allow machines to acquire, process, analyze, and make decisions based on visual data. Key aspects of machine vision include: Image acquisition: Machine vision systems use various...
computer vision: Computer vision enables computers to interpret and make decisions based on visual data, such as images and videos. It involves the development of algorithms, techniques, and systems that enable machines to gain an understanding of the visual world, similar to how humans perceive and interpret visual information. Key aspects and tasks within computer vision include: Image recognition: Identifying and categorizing objects, scenes, or patterns within images. This involves training...
artificial intelligence: The ability of a machine to perform certain complex functions normally associated with human intelligence, such as judgment, pattern recognition, understanding, learning, planning, and problem solving.