Planck

Planck, founded 2016, sells an AI-native data platform that turns a business name and an address into a structured risk profile for commercial underwriting. The product mines online images, text, reviews, public records, permits, and satellite data, then exposes the derived signals through an API that sits upstream of the rater. Planck reports deployment at more than half of the top-30 US commercial insurers.

Named customers. Chubb, Great American Insurance Group's Republic Indemnity, AIG's Attune, and Sompo (Japan) appear in the TechCrunch Series B/growth coverage. Nationwide participated as a strategic venture investor and is a customer via the Nationwide Corporate Venture arm.

Funding and ownership. $71M raised across seed, Series A, Series B, and a $20M growth round led by 3L Capital and Greenfield Partners. In 2024 Applied Systems acquired Planck in a reported $300M deal; Planck now operates inside Applied, which ships agency-management software for independent insurance agents and brokers.

Where it sits in old → new → AI. The legacy rung is an underwriter typing the business name into Google and hunting for signals across open tabs. The modern rung is effectively empty; a dedicated data platform for commercial underwriting is a category Planck largely defined. Federato sits at the workstation layer; Planck feeds data into that workstation or into whichever underwriter-facing system the carrier runs. The two are complements, not competitors.