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Climate Change Insurance: WeatherBill Raises $12.5M

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Climate change means we’ll be facing more unpredictable weather — and if you’re in a weather-sensitive business like farming or owning a ski resort, unexpected weather can mean a significant loss of sales. San Francisco startup WeatherBill, founded by former Google (GOOG) exec David Friedberg, offers businesses financial protection against unexpected weather — basically weather insurance. We chatted with Friedberg at an event last night and he said the company has raised $12.5 million in a Series A round. Here’s the release and the company’s widget:

The latest funding brings the company’s total to $16.8 million raised. The round was led by a high-profile list of investors: New Enterprise Associates (NEA) and Index Ventures; Allen & Company; Atomico Investments; Sean Park; and First Round Capital.

In the wake of weather disasters like Katrina, WeatherBill’s service is a tool that is truly riding the wave of climate change. The traditional insurance industry is figuring out how to address a world of increasingly unpredictable weather and WeatherBill’s technology is bringing that business to smaller businesses and via the web. Businesses must qualify with a $1 million net worth.

Friedberg explained to us that the service is not aimed at individuals, though consumers can benefit from the service via working with a business. For example, a customer of a ski resort can pay the resort a bit extra to get a full refund on a ski pass if the weather is too hot or cold.

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