The company develops scalable climate insurance solutions and the technology that powers them.
Puerto Rico-based AI startup Raincoat was selected among 20 Black and Latino entrepreneurs to receive a $150,000 cash award, Google Cloud credits and mentorship resources through the Google for Startups Founders Funds program.
This marks the first cohort exclusively comprising AI-focused startups, advancing Google’s commitments to inclusion in AI and helping diverse founders access capital.
San Juan-based Raincoat, which was founded by Jonathan González, develops scalable climate insurance solutions that enable instantly processed individual claims.
The company collaborates with industry incumbents, using AI to create advanced parametric insurance products for diverse risks. Its AI work addresses the challenge of developing products with sparse datasets and extracting signals for rare, catastrophic events.
Since its inception in 2018, Raincoat has achieved significant milestones in securing financing for its operations and establishing agreements for its products in Puerto Rico and beyond.
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