Nettle raises $4.8M to expand its AI workspace for insurers

Nettle, an AI platform for commercial insurance loss control, has raised $4.8 million in an oversubscribed seed round. The round was led by MTech, with Project A Ventures following on with a super pro rata investment and participation from Sure Valley Ventures (SVV), Portfolio Ventures, Ventures Together and selected angel investors.

The round brings Nettle's total funding to $6.8 million, following a $2 million pre-seed round in March 2025.

Founded in 2024 by former QuantumBlack colleagues Jack Miller and Katya Kinane, Nettle is developing an AI workspace designed to help commercial insurers assess and manage physical risks.

The company is addressing challenges facing loss control teams, which are responsible for assessing risks across insurers' portfolios. According to Nettle, teams can face backlogs of up to six months, while an estimated 40 per cent of risk engineers are expected to retire by 2030, increasing pressure on existing resources.

Nettle's platform brings risk identification, evidence capture, analysis and reporting into a single workspace. It uses AI and external data to identify potential exposures remotely, while guided inspections allow risk engineers, agents and policyholders to collect risk data. The platform can analyse images, video, audio, documents and third-party data, and produce reports, risk scores and recommendations.

Nettle says its technology enables insurers to complete risk inspections five times faster, providing underwriters with more timely data while allowing risk engineers to focus on cases where their expertise is most needed. Having initially developed the platform for Commercial Property, the company has since expanded it to other lines including Liability, Construction and Workers' Compensation.

Nettle has built a platform that turns Loss Control into a competitive advantage. 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,

said Jack Miller, co-founder and CEO of Nettle.

By extending the technology to agents and policyholders, Nettle says insurers can also collect information on sites that previously could not be economically inspected. Built for enterprise insurers, the platform supports cloud and on-premises deployment, regional data residency and enterprise-grade security. Nettle already works with insurers across Europe, the US and Asia.

The new funding will be used to support Nettle's expansion across the US and Europe and grow its engineering and go-to-market teams.