Novidea Secures $50M in Series C Funding

Novidea, a cloud-based insurance platform provider, raised $50 million in Series C funding led by Battery Ventures. The company plans to use the funds for product development, customer success infrastructure, and expansion across the US, UK, EMEA, and APAC. Novidea provides a data-driven insurance management system that enables brokers, agents, MGAs, and carriers to manage the customer insurance journey.

Novidea Secures $50 Million Series C Funding Led by Battery Ventures

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 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.

Novidea is a cloud-based, data-driven platform for the insurance policy and distribution lifecycle.

2 years ago

Novidea Secures $50 Million Series C Funding Led by Battery Ventures

ProblemFinancial Services

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