Foley Hoag LLP represented new artificial intelligence property technology company Hosta.ai (“Hosta”) in an $11.5 million Series A financing led by Eclipse Ventures, with participation from USAA, Brick & Mortar, Spider Capital, The Cincinnati Insurance Company, Motivate and Massive. Hosta plans to use the investment to bring their remote property assessment platform to insurers, contractors, and home improvement companies across North America.
Headquartered in Cambridge, MA, Hosta was established in 2020 to provide fast and accurate data about the built environment to businesses with remote and automated property assessments. The Hosta A.I. Assessment Platform uses patent-pending A.I. spatial and material analysis to automate property assessments from just a few simple photos.
Foley Hoag attorneys Sara Mattern and Hemmie Chang represented Hosta in the transaction.
