Voom, a Tel Aviv, Israel-based on-demand, telematics-based insurance platform for specialized mobility, closed a $5M Series A funding round.
The round, which brings the total amount raised to $7M, was led by Arbor Ventures with participation from returning investors F2 Capital, Verizon Ventures, and Kaedan Capital, as well as new partner Plug and Play Ventures.
Led by Tomer Kashi, CEO and Co-Founder, Voom an on-demand, telematics-based insurtech platform for specialized mobility products, dedicated to protecting users for anything they ride, fly, or sail.
The company’s first product, SkyWatch.AI, leverages machine learning to assess and mitigate risks and provide on-demand insurance for thousands of drone pilots operating across the US.
Its data-driven, usage-based insurance products include multiple high-risk, episodic-usage mobility verticals, including e-scooters, e-bikes, powersports, motor boats, and small planes.
Voom, which also has an office in Palo Alto, CA, is a licensed insurance broker in all 50 US states.