Novidea, a Milwaukee, WI, London, UK- and Netanya, Israel-based creator of a cloud, data-driven platform for the insurance policy and distribution lifecycle, raised $50M in Series C funding.
The round, which brought the total amount to date to $90M, was led by Battery Ventures with participation from Cross Creek, both new investors, and its existing investors, Israel Growth Partners (IGP), KT Squared, and JAL Ventures. Shiran Shalev, Partner at Battery Ventures, will join the Board of Directors at Novidea.
The company intends to use the funds to further development of its cloud-based, data-driven insurance platform, consolidation of its customer success infrastructure, and expansion of teams and offices across all target markets in the US, UK, EMEA, and APAC.
Led by CEO Roi Agababa, Novidea is an Insurtech provider of a cloud-native, data-driven insurance management system. Using an open API architecture, the software platform enables brokers, agents, MGAs, and carriers to modernize and manage the customer insurance journey, end-to-end, and drive growth across the entire insurance distribution lifecycle. The platform, built to leverage the Salesforce’s Technology, provides a complete ecosystem spanning every aspect of an insurance business, including a view of the customer and all stakeholders, an integrated customer-facing policy transactions, and the middle and back office.
Novidea serves more than 100 customers across 22 countries.
FinSMEs
03/05/2023