Nettle raises $4.8M to scale the AI Workspace for Loss Control globally

LONDON, UNITED KINGDOM, AND NEW YORK, USA. TUESDAY 6 OCTOBER 2026 – Nettle has announced an oversubscribed $4.8M Seed round led by MTech, with participation from Project A, SVV (Sure Valley Ventures), Portfolio Ventures, and Ventures Together. The round brings Nettle’s total funding to $6.8M, following its $2M pre-seed round in March 2025.

Commercial insurers have a Loss Control problem: there are more risks to assess and fewer experienced risk engineers to assess them. Teams already face backlogs of up to six months, while an estimated 40% of risk engineers are expected to retire by 2030.

Nettle has built the AI Workspace for Loss Control to solve this. Its platform brings risk identification, evidence capture, analysis, and reporting into one workspace. Nettle helps insurers complete risk inspections 5x faster and better manage risks across the policy lifecycle. Underwriters get more timely and higher quality data, while risk engineers focus on the risks where their expertise matters most.

Nettle already works with insurers including Allianz and Brotherhood Mutual across Europe, the US, and Asia. Initially built for Commercial Property, the platform has expanded to cover all other lines including Liability, Construction, and Workers’ Compensation.

Having helped risk engineers complete inspections 5x faster, Nettle is now extending the same technology to agents and policyholders, allowing insurers to collect risk data on sites they previously could not economically inspect.

Nettle will use the funding to expand across the US and Europe, and grow its engineering and go-to-market teams.

Built for enterprise insurers, Nettle supports cloud and on-premise deployment, regional data residency, and enterprise-grade security.

Nettle was founded in 2024 by former QuantumBlack colleagues Jack Miller and Katya Kinane, who previously built and deployed AI products across insurance and financial services at McKinsey.

More data. Better decisions.

Loss Control used to be constrained by the number of risk engineers an insurer employed. Nettle removes that constraint. Its AI workspace helps insurers collect and understand physical-risk evidence across far more of their portfolios, while reserving scarce engineering expertise for the most complex risks.

• Identify risk remotely: AI and external data surface potential exposures before anyone visits a site.
• Democratize data capture: Guided inspections enable risk engineers, agents, and policyholders to collect consistent risk data.
• Analyze evidence automatically: Nettle analyzes images, video, audio, documents and, third-party data.
• Turn evidence into decisions: Reports, risk scores, and recommendations that previously took days can be produced in seconds, helping customers get instant insights for faster decision-making.

Jack Miller, Nettle co-founder and CEO, comments:

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. This round lets us take what we’ve proven across three continents, with extremely positive feedback, and scale it everywhere our customers operate.

Kevin McLoughlin, Founder and Managing Partner at MTech, adds:

Nettle has built a next-generation platform for risk engineers in their assessment of site risk for large commercial customers. Using generative AI, top global insurers are adopting the Nettle platform, which requires minimal integration effort, to transform physical data collection and analyses for large commercial risks. We are very impressed with Nettle's success to date and the deep experience the founders bring to an area of insurance often overlooked by start-ups.

About Nettle

Nettle is the AI workspace for Loss Control. Its platform combines remote risk identification, guided inspections, mobile evidence analysis, and instant report generation, helping insurers complete inspections 5x faster and better understand risk across their portfolio. Founded in 2024, Nettle is present in London and New York City. It is backed by MTech, Project A Ventures, Sure Valley Ventures, Portfolio Ventures, and Ventures Together. For more information, visit www.getnettle.com.

About MTech

MTech is a venture capital firm backing AI-driven companies reshaping insurance and financial services, investing at the early stage across North America and Europe. Founded in 2018 by Kevin and Brian McLoughlin, the firm is backed by some of the world's largest insurance companies and takes a hands-on approach with founders, drawing on decades of combined fintech, venture, and insurance investment banking experience. MTech's portfolio includes Akur8, Covr, Matic, Openly, and Polly.