First Street Foundation

Quantifying the financial cost of climate risk for every property on Earth.

Data & Analytics Growth Series A

Overview

First Street Foundation is a climate risk data and analytics company that builds the standard for climate risk financial modeling. Founded in 2016 by Matthew Eby, First Street quantifies present and future property-level risk from five major climate perils -- flood, wildfire, heat, wind, and air quality -- and delivers this data to financial institutions, insurers, government agencies, and real estate platforms.

Originally structured as a non-profit research organization, First Street transitioned in September 2025 to become a leading enterprise provider of physical climate risk data. Their deterministic, physics-based models cover 2 billion structures worldwide across 79+ asset types and are peer-reviewed and validated against real-world events.

First Street was recognized in 2026 as one of Fast Company's Most Innovative Companies for putting a number on the true cost of climate change, and has opened a London office to serve global markets.

Products & Services

Climate Risk Financial Models

Physics-based deterministic models covering flood, wildfire, heat, wind, cold, and drought. The platform includes 16 unique climate models and 180+ loss models that calculate potential damage and downtime at the building level.

Key Features

Property-level risk scores for flood, wildfire, heat, wind, and air quality
Coverage of 2 billion structures worldwide across 79+ asset types
Deterministic methodology using actual structure characteristics
Peer-reviewed models validated against real-world climate events

Target Users: Financial institutions, insurers, reinsurers, asset managers, government agencies

Risk Factor (riskfactor.com)

Free public-facing tool providing property-level flood, wildfire, heat, and wind risk data across the United States. Integrated with major real estate platforms.

Key Features

Free consumer-facing risk scores for US properties
Flood, wildfire, heat, and wind risk in a single interface
Embedded in Zillow, Redfin, and Realtor.com listings

Target Users: Home buyers, real estate agents, consumers

Enterprise Suite

Asset-level due diligence and portfolio management platform for financial institutions and asset managers.

Key Features

Portfolio upload with auto-matched locations and risk rankings
Financial impact calculations across multiple timeframes
Standardized reporting aligned with ISSB, TCFD, and CSRD frameworks
API-based integration with insurance software platforms

Target Users: Asset managers, lenders, insurers, institutional investors

At a Glance

Founded: 2016
Headquarters: Brooklyn, New York, USA
Employees: 11-50
Funding: Series A

Category & Focus

Category: Data & Analytics
Subcategories: Climate Risk Modeling Property Risk Scoring ESG Reporting Data
Insurance Verticals: P&C Commercial P&C Personal Specialty/E&S Reinsurance
Target Customers: Carriers, Reinsurers, MGAs/MGUs