Vertex Ventures Israel leads $5m Series A in insurtech startup Atidot

Vertex Ventures Israel has led a $5-million Series A funding round in Israeli startup Atidot, an insurtech firm that provides big data and predictive analytics tools for the life insurance industry.

Founded by a team of data scientists and actuaries, Atidot helps insurance providers use their existing data to improve policyholder retention, sales, and in-force management, it said in a statement.

“Very little of the data possessed by the life insurance industry is being utilized for strategic purposes. Current legacy systems do not handle the abundance of data now available, often leaving life insurers in the dark about the nature and behavior of their policyholders,” said Atidot co-founder and CEO Dror Katzav.

The fresh funds will be used to scale Atidot’s operations and expand US sales and customer support activities and augment its actuarial science, data science, and software engineering teams.

Existing investors The D.E. Shaw Group, Moneta Seeds, and Bank Hapoalim also joined the funding round.

With the closing of its Series A round, Atidot also announced the appointment of Martin Snow, a former executive at global insurers Prudential, TIAA, and MetLife, as its new Vice President and Chief Delivery Officer.

“Life insurers and annuity writers can develop new strategies for their in-force management and new business activities through the insights generated by predictive analytics,” Snow said.

Early this month, Vertex Ventures Israel, the lead investor in Atidot’s latest funding round, also co-led a $5-million seed round in Israeli startup Nucleai Ltd. Nucleai uses artificial intelligence and machine learning algorithms to detect cancer and other diseases.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.