State Farm Ventures

We love to highlight the work being done by some of our portfolio companies – specifically focusing on each company’s founder. Today we continue our series of “Founder Feature” reports with more on Garrett Kurtt, of OneClick Code. https://lnkd.in/erCNkrjN

How can data centers be more efficient in the future? As part of State Farm's initiative to advance environmental, social, governance (ESG) goals, we’re researching new technologies that help to reduce energy consumption and waste from large data centers. Net Zero Data Centers are one technology that may have viability. These help reduce grid-tied energy consumption by utilizing onsite renewable energy, eliminate water usage for cooling, and reduce pollution due to waste efficiency regeneration and perpetual resource use. All of this adds up to a sizeable reduction in overall emissions. Whether it's understanding new ways to increase efficiency and reduce emissions and waste or ideating new ways to increase value for customers, State Farm is on a mission to explore, develop, and engage in innovative solutions now and for the future. Reach out to us at ventures.statefarm.com to learn more about opportunities to collaborate and innovate with State Farm.

Will the combination of spatial and geospatial AI lead to more accurate event forecasting and risk prediction? As State Farm continues to understand the impacts of changing weather patterns and ways to help customers protect against damage, we’re also looking at advanced technology that may help to model future patterns, predict risk, and help reduce loss. The combination of these technologies along with AI and its ability to digest and provide insights on large quantities of data with a focus on assessing risks to prevent loss, is called spatial finance. This concept is a valuable tool that may help to understand patterns and risks and create strategies to prepare for and prevent damage in states of potential impact down to areas, neighborhoods, and houses. Whether it's understanding advancements in predictive risk modeling or ideating new ways to increase value for customers, State Farm is on a mission to explore, develop, and engage in innovative solutions now and for the future. Reach out to us at ventures.statefarm.com to learn more about opportunities to collaborate and innovate with State Farm.

Will Small Language Models (SLMs) become more popular than Large Language Models (LLMs)? As @StateFarm continues to explore AI, machine learning, and advances in future tech, we’re also experimenting with language models and use cases. While deep-learning LLMs are trained on infinite amounts of data and can perform an array of tasks, SLMs are trained for very specialized functions. This shift in training from expansive to specific appears to create multiple advantages such as a reduction in cost and difficulty to train, deploy, and maintain as well as abilities to be more adaptable to specialized uses cases and function with faster inferencing. SLMs may be the future. Whether it's understanding advancements in language models and uses or ideating new ways to increase value for customers, State Farm is on a mission to explore, develop, and engage in innovative solutions now and for the future. Reach out to us at ventures.statefarm.com to learn more about opportunities to collaborate and innovate with State Farm.

How might AI evolve to provide personal assistance in the future? Today, AI can be found in everything from smart phones to appliances to digital assistants inside homes and cars. Soon, AI assistive devices may be found in much smaller, more convenient applications. The combination of AI with machine listening, computer vision, and other advanced tech into much smaller, wearable, travel-sized packages – including glasses, pins, clips, and earbuds – may help people of all abilities navigate and interact seamlessly on the go, finding answers for every need. Whether it's understanding advancements in AI-enabled devices or ideating new ways to increase value for customers, State Farm is on a mission to explore, develop, and engage in innovative solutions now and for the future. Reach out to us at ventures.statefarm.com to learn more about opportunities to collaborate and innovate with State Farm.

Employee Spotlight: Ventures Scouting Analyst Cheryl Poccia. Cheryl became a member of the Ventures Innovation Scouting and Trends Team in September 2024. In this role, she identifies emerging technology trends, analyzes startups, and identifies strategic investment opportunities. With a focus on sustainability and innovation in the insurance industry, Cheryl offers valuable insights into both current and future developments. Before joining State Farm, she developed her expertise in entrepreneurship, investment strategies, and sustainability studies, gaining experience across various industries. This diverse background gives Cheryl a unique perspective in her current position. Outside of work, you can find her running 5Ks, enjoying the outdoors with her family, and exploring New York City.

Team spotlight on Tim Spader: Tim joined the Ventures scouting analyst team in February 2023. He reports on emerging technology trends, curates market intelligence on startups, and identifies strategic investment opportunities for consideration. Tim's interests in automotive research contributes to our understanding of software-defined vehicles, autonomous mobility, advanced risk assessment tools and informs the organization’s strategic direction on the topic. Prior to joining the team, he spent nearly two decades evaluating new tools and technologies for claims and evaluating potential vendor capabilities. Tim hails from Harrisburg, Pennsylvania and is a huge supporter of the University of Pittsburgh.

As we continue to feature team members who have joined the Ventures team over the past few months, we’re proud to spotlight Ventures Analyst Kyle Wallace. Kyle joined the team in 2023 with a background in corporate finance and investments. He holds the CPA (Accounting) and CFA (Finance) designations in addition to an undergraduate degree from the University of Illinois. He is responsible for investment due diligence, investment committee reporting and building bridges between startups and internal business stakeholders. Kyle blends curiosity and passion for the State Farm mission, and analytical rigor into a thoughtful approach toward corporate venture capital.

Over the next several months, we will be highlighting the work being done by some of our portfolio companies – specifically focusing on each company’s founder. We’ll kick things off today with a feature on Brad Weisberg, the founder & CEO of Snapsheet.  https://lnkd.in/gPRVFkH9