Nettle's loss-control AI draws $4.8M seed as risk engineer retirements loom
MTech led the oversubscribed round, which lifts the startup's total funding to $6.8M and will fund expansion in the US and Europe.
Nettle, which builds an AI workspace for commercial insurance loss control, has raised $4.8 million in an oversubscribed seed round led by MTech. Project A Ventures followed on with a super pro rata investment, alongside participation from Sure Valley Ventures, Portfolio Ventures, Ventures Together and selected angel investors. The new capital takes 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. Loss control teams are responsible for assessing risks across insurers' portfolios, and according to Nettle those teams can face backlogs of up to six months, while an estimated 40 per cent of risk engineers are expected to retire by 2030 — a combination that increases pressure on the resources that remain.
The platform pulls 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. It can analyse images, video, audio, documents and third-party data, and produce reports, risk scores and recommendations. Nettle says the technology enables insurers to complete risk inspections five times faster, giving underwriters more timely data while allowing risk engineers to focus on the cases where their expertise is most needed.
Having initially built the platform for Commercial Property, Nettle has since extended it to other lines including Liability, Construction and Workers' Compensation. By pushing the technology out to agents and policyholders, the company says insurers can also gather information on sites that previously could not be economically inspected.
Nettle is built for enterprise insurers, supporting cloud and on-premises deployment, regional data residency and enterprise-grade security. The company 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 to grow its engineering and go-to-market teams.
"Nettle has built a platform that turns Loss Control into a competitive advantage," said Jack Miller, co-founder and CEO of Nettle. "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."
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.
About the Company
AI platform for commercial insurance loss control.