Confianza, Inc., a provider of data analytics and machine learning to insurance agents, brokers, and carriers in the US, has announced the first close of its seed funding round, led by Sandbox Insurtech Ventures.

Founded in 2020 by insurance industry veterans Jeffrey Glazer and John Petricelli, Confianza aims to help insurance intermediaries and carriers to make data driven business decisions.

The company has built a third-party dataset from proprietary, licensed, and public sources incorporating over 270 million individuals, 170 million households, and 60 million large and small businesses, spanning more than 2,700 attributes.

Using artificial intelligence, it then links and curates this dataset to provide insight into factors such as insured’s level of exposure and risk, financial health and wellbeing, household/business composition and interests.

“The insurance data market is experiencing significant growth amid sustained, high demand for data. Confianza is well-positioned to provide our insurance industry clients with a sophisticated suite of analytical products and services,” said Jeffrey Glazer, co-founder, and CEO of Confianza.

“We are thrilled to announce the close of today’s round and look forward to working closely with our partners to harness their strategic insights, resources, and extensive insurance industry expertise.”

Confianza plans to utilize the funding round to significantly build out its team, core product and service offerings, while further serving its fast-expanding customer base.

“We are pleased to support Jeffrey, JP, and the entire Confianza team at the early stages of the Company’s development,” added Michelle Gouveia, Vice President of Sandbox Insurtech Ventures.

“The insurance data sector presents strong, attractive market opportunities and Confianza’s innovative data analytics platform and solutions will be crucial to the industry’s development. We look forward to supporting Confianza on its growth journey.”