Saudi Arabia’s Prince Khaled bin Alwaleed bin Talal Al Saud has joined a US$60 million Series D funding round in Clearspeed, the California-based voice-based risk assessment technology firm, through KBW Ventures, the venture capital fund he leads as founder and CEO.
The round was led by Align Private Capital, a Florida-based private investment firm, with additional participation from IronGate Capital Advisors, a Florida-based venture capital firm focused on dual-use technologies, and Bravo Victor Venture Capital, a UK-based fund supporting innovation for the visually impaired and defense sectors.
In an interview with Inc. Arabia, Prince Khaled said that his firm’s first commitment in the insurtech domain was made based on Clearspeed’s financial strength, as well as its alignment with KBW Ventures’ growth-stage focus. “Clearspeed is already profitable and operationally sustainable, exemplifying the shift in our investment strategy toward financially sound companies with a clear trajectory to an initial public offering (IPO) and long-term value creation,” he said.
Clearspeed, founded by Alex Martin and Kurt Martin in San Diego in 2016, provides dual-use voice-based risk assessment tools used across commercial and government sectors. In insurance, it delivers more than 30x return on investment by accelerating the underwriting and claims process.
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