Watch all the Transform 2020 sessions on-demand here.
One Concern today announced that it has closed a $20 million funding round to “future proof the world,” according to a company spokesperson. The funding will be used for research and development as One Concern expands its use of machine learning to predict and mitigate the impact of natural disasters like fires, floods, and hurricanes after they happen.
Predictive AI from One Concern, called Seismic Concern, currently focuses on earthquake preparedness and response. For example, AI models trained with information about building structural integrity and seismic activity are deployed to help cities know where to dispatch emergency workers after an earthquake. Demographics of people impacted, such as age and economic status, are also provided.
One Concern currently partners with cities like Los Angeles and San Francisco, the company said.
“Our AI-based technology will assign a unique, verified ‘digital fingerprint’ to every natural or manmade element, from the smallest rock to complete structures to mega cities and eventually, the entire planet,” cofounder Ahmad Wani said in a Medium post today. “One Concern will provide insights across the entire time horizon — whether it’s days before a flood, minutes after an earthquake, or forward-looking policy and planning.”
Above: A predictive earthquake damage map
The $20 million round was led by New Enterprise Associates (NEA), with participation from Geodesic Capital and individuals like former CIA director David Petraeus and SV Angel founder Ron Conway.
June 5th: The AI Audit in NYC
Join us next week in NYC to engage with top executive leaders, delving into strategies for auditing AI models to ensure fairness, optimal performance, and ethical compliance across diverse organizations. Secure your attendance for this exclusive invite-only event.
Advisors contributing to One Concern’s human intelligence to complement AI include Petraeus, OpenGov cofounder Nate Levine, and former Rockefeller Foundation director Judith Rodin. Former FEMA administrator Craig Fugate joined the One Concern team earlier this year.
One Concern was established in 2015. The company has 35 employees and is based in Palo Alto, California.
Clarification: The original version of this story called former FEMA administrator Craig Fugate an advisor to One Concern, however Fugate is a One Concern employee.
