Israeli insurtech software company Novidea today announced the completion of a $50 million Series C financing round led by Battery Ventures with participation from Cross Creek, and existing investors, Israel Growth Partners (IGP), KT Squared, and JAL Ventures. This brings the total amount raised by Novidea to $90 million.
Novidea has developed a born-in-the-cloud, data-driven platform that optimizes the entire insurance policy and distribution lifecycle. In recent years, the company says it has achieved strong growth by selling to insurance leaders worldwide.
Novidea will use the latest investment to increase international market share and further develop its cloud-based, data-driven insurance platform, strengthen its customer success infrastructure, and expand teams and offices across all target markets in the US, UK, EMEA, and APAC.
Novidea CEO Roi Agababa said, “Novidea has experienced unprecedented growth, driven by the demand in global markets to modernize the insurance distribution lifecycle and provide a better digital experience,”
He added, “Through this transaction, Novidea will have the ability to expand our product suite, add further innovation to our platform, and deliver superior customer experience.”
Published by Globes, Israel business news – en.globes.co.il – on May 3, 2023.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2023.
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