Atidot, a Tel Aviv, Israel-based insurtech company, raised $5m in Series A funding.
The round was led by Vertex Ventures with participation of existing investors The D.E. Shaw Group, Moneta Seeds, and Bank Hapoalim. In conjunction with the funding, Emanuel Timor, General Partner, Vertex Ventures Israel, is also joining the Atidot Board of Directors.
The funds will be used to scale operations and expand US sales and customer support activities, as well actuarial science, data science, and software engineering teams.
Led by Dror Katzav, CEO and Co-Founder, and newly added Vice President and Chief Delivery Officer Martin Snow, Atidot leverages artificial intelligence, machine learning, and predictive analytics to enable life insurers and annuity writers to make data-driven business decisions while enhancing their services to cater to the unique requirements of their customers. The company provides insurers with a SaaS predictive analytics platform that utilizes underused and often neglected sources of data as well as open access information, to enhance existing actuarial and business models.