WeatherBill Launches, Announces All Star Investors

San Francisco based WeatherBill, the service which lets you bet on the weather (it can also be used for insurance), took down their landing page and launched today.

We wrote about the company two weeks ago while it was in private beta. WeatherBill is combining an ecommerce site with a complicated weather forecasting algorithm to sell weather insurance policies to individuals and businesses.

The company is not disclosing the size of their round of funding. However, it includes venture firms NEA and Index Ventures, as well as a number of well known individuals: founder Joshua Schachter, Skype founder Niklas Zennstrom (through his Atomico fund) and Howard Morgan (idealab and First Round Capital), as well as others who declined to be named.

WeatherBill is perfect for small and medium sized businesses who’s businesses are affected by the weather. If a golf course wants to be paid $1,000 per rainy day, WeatherBill will create a policy on the fly for them.

The company was founded by former Googler David Friedberg.

On a side note, WeatherBill is doing some really nice things with Flash (see the tools section). Even if weather and insurance isn’t your cup of tea, you should check it out. Particularly if you are creating Flash applications yourself (I said the same thing about Jobby with their use of Ajax back in March).