Meet 7Analytics, Startups of the Year 2024 Nominee

Hey Hackers,

7Analytics has been nominated in HackerNoon's annual Startups of The Year awards in Boston, MA.

Please vote for us here:

Read more about us below to understand why we deserve your vote.

Meet 7Analytics

7Analytics is a climate tech startup developing superior, high-precision models for predicting floods. We use hydrology, geology, and data science to help asset owners and insurers to tackle imminent and future impacts of climate change.

How 7Analytics achieved product-market fit

Our insurance-focused flood risk offering has been developed in a three year R&D collaboration a leading Property and Casualty Insurance company.

Since it was live in end-2023, it has achieved a 40% market share in its home market and is being piloted on three continents.

As the most recent testament of the commercial and tech potential of the solution, a top 40 global insurer joined 7Analytics’ group of insurers (not disclosed).

The evolution of 7Analytics

The founder team of 7Analytics totals 100 years of experience from the oil and gas sector where they have been chasing fluids in the subsurface of the North Atlantic - one of the harshest and most complex environments on Earth.

When founding the climate risk company, they brought all that knowledge to our cities to predict flood risk in whole new ways.

Recently, 7Analytics’ focus was pulled away from engineers, architects and real estate developers by very eager insurers and asset owners that really feel the pain on their bottom lines when climate turns riskier.

Milestones and achievements

• Founded in Bergen, Norway, in 2020
• R&D partnership with insurance company in 2021 which produced ground-breaking, market-ready solution by end-2023
• First US client in 2023 and US subsidiary established in 2024
• Seed capital round targeted at internationalization closed in 2024 with participation of leading global insurer

Lessons learned

Climate risk is a very timing-dependent driver of solution uptake. Typically, a flood event (unfortunately) or policy changes are required for clients and partners to jump on this emerging agenda. That implies patient relationship-building and long sales cycles.

What Startups of The Year means to us

Commercially, being newly established in the US, the visibility and stamp-of-approval of Startups of The Year would be crucial for our next development phase.

Existentially, being recognized for taking the technological achievements from the black oil and gas sector and turning it into part of the green, sustainable future for all of us would be a boost to the 7Analytics team's moral and story - and we believe it would fit super well with HackerNoon’s brand and spirit of innovation.

Conclusion

The only way to get societies ready for a wet and flood-risky future is through innovation. Completely new approaches to data are needed to understand floods in areas that never flooded before - maybe your own neighborhood. 7Analytics pushes the limits for understanding nature, predicting flood risk, and making the information available for everyone.

Vote for us today!