Planck, a Tel Aviv, Israel-based provider of an AI-powered data and analytics platform for commercial insurance, raised $23M in funding.
The round was led by Vintage Investment Partners, with participation from Team8, Greenfield, Arbor Ventures, Viola, 3L Capital, HDI and Nationwide, alongside private angel investors.
The company intends to use the funds to bolster development of additional products that complement the platform, along with continued geographic expansion.
Led by CEO Elad Tsur, Planck provides a platform that enables insurers to drive service and underwriting excellence by connecting the most up-to-date insights, with just a business name and address. Global carriers, MGAs, and insurtechs leverage Planck’s holistic solution for growth strategies; submission prefilling; prioritization and validation; underwriting new business; renewing existing policies; premium auditing and more.
Planck recently launched solutions like its underwriting risk search engine, which solves for the shortcomings of traditional research methods, and Prospect Intelligence that helps carriers expand into new markets, reduce customer acquisition costs, and drive growth.
Among others, six of the top ten commercial insurance carriers in the U.S, as well as top carriers in Europe and Japan are already using its offerings.
Planck has almost 100 employees globally.
FinSMEs
16/09/2022