Understory raised $15 million in its Series A funding round, which was co-led by True Ventures and Prelude Ventures, the company announced today.

According to a release, the funds will help launch a product focused on the global renewable energy sector.

“Expanding from a tech-focused startup to a leading figure in the insurance market exemplifies our ability to scale solutions that tackle real-world problems,” Understory CEO Alex Kubicek said in a statement. “Our latest venture into renewable energy insurance underpins our commitment to re-architecting insurance structures that support sustainable industry growth while mitigating environmental risks.”

To date, the company’s proprietary risk mitigation technology has reduced weather damage for its clients by more than $65 million and effectively reduced overall claim trends by 60%.