PLNAR, an augmented reality service that creates, fully measured, real-time 3D models of any room, has raised $3.9 million in a Series A investment round led by insurtech and healthcare venture capital fund ManchesterStory Group.
Additional funding came from The Venture Reality Fund and Colopl Next Inc. The financing will be used to fund PLNAR’s expansion in the insurance claims and home improvement industries.
PLNAR says that proprietary technology captures “all the data needed to fulfill internal insurance claims, allowing the user to easily aggregate all the content of the damaged area, including measurements, summary reports, photos and 3D models”. to apply for the current insurance sector claim.
The Firm can help PLNAR reduce the loss-fixing costs and overall operating expenses of the insurers while improving their loss prevention and fraud detection efforts. Technology is helping insurance companies move their small-scale property rights claims to the model of desk demands on the field, faster and more efficiently.
“Historically, as part of an on-site insurance indemnity arrangement, rooms have been a manual process that has been completed in difficult, sometimes dangerous environments,” said Matt Kinley, managing partner of ManchesterStory. “Using PLNAR’s AR-enabled data capture system, measuring and creating 3D model of the site for further evaluation increases the speed and accuracy of on-site data collection.”
PLNAR is now available in the App Store for home and Android devices starting in Autumn 2018.
This new fund will also be renovated to support the opening of PLNAR to home improvement markets, which will allow businesses in the remodeling industry to use the PLNAR solution to digitize processes and improve customer experience.
Intelligent Imaging Technologies Inc. (dba PLNAR) and CEO Andy Greff are headquartered in Austin, Texas.
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