WeatherBill, the California-based provider of weather insurance and related products, has wrapped up a $42 million round of Series B funding from new investors Khosla Ventures and Google Ventures, the companies announced late Monday.
Google’s investment in WeatherBill marks a reunion of sorts. Google veterans Siraj Khaliq and David Friedberg are, respectively, the CTO and CEO of the company.
“WeatherBill’s founders David Friedberg and Siraj Khaliq are ex-Googlers, so it’s understandable that they are working on turning the big problem of climate change into a big opportunity,” Bill Maris, managing partner of Google Ventures said in a statement.”
Along with the new investors, existing investors NEA, Index Ventures, Allen & Co., First Round Capital, Atomico Investments and Code Advisors join in the Series B fundraising. Khaliq and Friedberg said capital raised from the Series B will be used to foster product and sales expansion stateside and abroad.
Last year, WeatherBill launched its Total Weather Insurance, a weather protection program for the agriculture industry, which offers users the opportunity to acquire positions that prevent steep losses in the event of inclement weather. WeatherBill offers more granular policies to vacationers looking to hedge against weather disrupting a trip, whether it is to the slopes or on the sand.
In 2007, WeatherBill followed up on its angel round with a $12.5 million Series A investment that came from NEA, Index Ventures, Allen & Co., Atomico Investments, First Round Capital and Sean Park.