LightBox and First Street Foundation Expand Partnership Creating a Unique Ability to Price and Evaluate Climate Risk
IRVINE, Calif., Jan. 10, 2023 – LightBox, a leading information and technology company, today announced an expansion of their partnership with First Street Foundation, a nonprofit 501(c)(3) research and technology group working to define America’s growing climate risk. Through the partnership, First Street Foundation’s Risk Factor tool will be incorporated into LightBox products, making it easier to identify and measure climate risks ranging from floods and wildfires to extreme heat.
The First Street Foundation’s peer reviewed, climate adjusted flood, wildfire and extreme heat models compute risk at the individual property level and incorporate the best available climate science to understand how risk is changing over time. It leverages LightBox’s Nationwide Location Fabric in its estimation of climate impacts specific to each property in the United States under different climate scenarios.
“The data provided by LightBox is a critical component of the First Street Foundation flood, wildfire and extreme heat risk models, allowing us to analyze the specific climate risk facing each property in the country, and how it’s changing over time,” said Matthew Eby, CEO of First Street Foundation. “By understanding the parameters and physical features driving climate risk, LightBox is helping us arm investors, shareholders, and business owners with the information they need to protect their largest investment.”
The LightBox data platform provides access to a wide range of data through a unified API which is built on a consistent data model and connected with a single identifier. The LightBox identifier (LID) is a unique, digital identifier making it easier to see relationships and perform analysis across LightBox’s property graph consisting of public, private, third party and LightBox data. The LID enables users to enrich data for faster onboarding, connecting disparate data for insight and application use. LightBox data powers the First Street Foundation flood, wildfire and extreme heat risk models, and, in the new year, these models will be available as a connected data layer to LightBox’s SmartFabric™ product.
“It’s critical for real estate professionals to feel empowered to make successful and confident decisions in order to anticipate, quantify, and effectively plan for risk and mitigation, which is why this partnership and the ability to provide access to transformative data sets with First Street Foundation is imperative,” said Eric Frank, CEO of LightBox.
LightBox is a leading real estate information and technology platform. Through operational excellence and a passion for innovation, LightBox facilitates transparency, efficiency, insight, and prediction for real estate investment and location analytics. LightBox customers include commercial and government agencies requiring definitive real estate data and powerful workflow solutions, including brokers, developers, investors, lenders, insurers, technology providers, environmental consultants, and valuation professionals. LightBox is backed by Silver Lake and Battery Ventures. For more information about LightBox, visit: https://www.lightboxre.com/
About First Street Foundation
First Street Foundation is a non-profit 501(c)(3) research and technology group dedicated to making climate risk accessible, easy to understand and actionable for individuals, governments, and industry. Using world class modeling techniques based on the most up to date science available, they inform Americans of their risk today and into the future through their numerous peer-reviewed publications and reports along with Risk Factor (riskfactor.com), their publicly facing property specific climate risk assessment tool. To learn more about First Street Foundation visit FirstStreet.org or follow them on Twitter, LinkedIn or Facebook.