Investible is an early-stage venture capital firm backing the visionaries advancing humanity through technology. Its mission is to connect ground-breaking companies with the capital, expertise and networks they need to realise their potential on a global scale. Founded in 2014 and with offices in Sydney and Singapore, its unique approach to early-stage tech investment globally sees its VC Funds co-investing alongside members of Club Investible, an active, global investor community. Its group portfolio includes more than 100 early-stage companies across 11 countries and 20 sectors.

Investible

F2 is an early stage VC firm that typically invests the first check into the most promising technology startups in cloud infrastructure and applied AI out of Israel. The partners have been investors, operators, and engineers in startups and multinational giants that have delivered outlier returns over the last 20 years. With $500 million assets under management, F2 has developed a systematic method for sourcing and backing exceptional founders before others are ready.

F2 Venture Capital

Viola Ventures (formerly Carmel Ventures) is a venture capital firm that invests in Israeli-related early stage companies with significant ideas that can lead to transformational companies. Founded in 2000 by [Avi Zeevi](https://www.crunchbase.com/person/avi-zeevi) and [Shlomo Dovrat](https://www.crunchbase.com/person/shlomo-dovrat), Viola Ventures manages over $1.2B across six funds, and is the only Israel-based VC fund with seven investing partners solely dedicated to early-stage tech investments. This allows for unique depth and diversification that spans across a wide range of backgrounds and verticals. With over 20-year legacy in Israel’s vibrant technology ecosystem, Viola Ventures is known for repeatedly backing global tech companies and unicorns, such as ironSource, Payoneer, Lightricks, Redis Labs, and Outbrain. The fund holds a substantial share of Israel’s significant exits, including Actimize, RedBend, ECI, Samanage, Perfecto, Tapingo, and more. Viola Ventures invests in exceptional teams with a strong focus on AI technologies looking to transform traditional markets, the semiconductors and deeptech industries, and consumer facing products.

Viola Ventures

GFC is a globally oriented, stage agnostic venture capital firm that empowers gifted entrepreneurs. The firm seeks to invest in companies that operate within the internet, retail, financial software, media, communication, and information technology sectors. It was founded by Oliver Samwer in 2013 and is based in Berlin, Berlin, Germany.

Global Founders Capital

Portage Ventures is a global fintech-focused venture capital investor. The firm makes early-stage investments in promising Canadian financial tech companies that have potential for global impact.

Portage Ventures

Our experienced investors work closely with the Munich Re Group businesses across the globe to fund and partner with the best emerging companies that are developing new technologies and business models – and risks – for tomorrow’s world. As one of the global providers of reinsurance, primary insurance and insurance-related risk solutions, Munich Re is uniquely positioned to help the world adopt new innovations by transferring the risks from invention and by developing solutions for loss prevention.  As strategic investors, Munich Re Ventures provides capital and guidance to current and future Munich Re partners who are creating the world around us. We invest out of three funds with the Munich Re Group companies as Limited Partners: the Munich Re Fund for the Reinsurance Group, the HSB Fund for specialty insurer Hartford Steam Boiler, and the ERGO Fund for European and Asian primary insurer ERGO. With Munich Re’s strong balance sheet, flexibility and vast insurance and industry relationships, these businesses provide value to our investments from day one. Whether de-risking the go-to-market strategy for an early stage renewable energy technology provider company or providing insurance capacity for a startup offering a new type of insurance for autonomous vehicles, our businesses deliver innovative solutions in an ever-changing world.

Munich Re Ventures

Menora Tech is a digital company that focuses on website design and development, graphic design, and digital marketing. They include search engine optimization, pay-per-click advertising, social media marketing, and email marketing. They are dedicated to assisting clients in achieving their objectives and growing their businesses through our comprehensive digital solutions.

Menora Tech

Lumir Ventures is a venture capital firm that collaborates with outstanding Israeli entrepreneurs to establish global technology companies. Lumir Ventures was founded in 2021.

Lumir Ventures

Faye

Faye is a travel insurance company that provides whole-trip travel coverage and care that brings in industry technology for each journey that enables smarter, faster, smoother assistance and claims resolutions. Their travel insurance covers your health, your trip, your stuff, and even your pet via an app that provides real-time proactive solutions, quick reimbursements, and 24/7 customer experience specialists who turn travel mishaps into laugh-about-it-later memories.

Israel-based Faye offers whole-trip travel insurance to US travelers via a mobile app. It covers travelers' trips (delays and cancellations), health, belongings, pet cover, as well as rental car and vacation property damage insurance.

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience

InsurTech: Personal Lines

Faye: Travel Platform Company Secures $31 Million In Series B

Israel-based Faye offers whole-trip travel insurance to US travelers via a mobile app. It covers travelers' trips (delays and cancellations), health, belongings, pet cover, as well as rental car and vacation property damage insurance.The company, through its mobile app, sends real-time alerts to customers based on their itinerary, provides 24/7 customer assistance, and enables customers to lodge claims and receive electronic transfers digitally via Faye Wallet (a digital card that connects to the customers’ Google Pay and Apple Pay accounts). Faye also provides reimbursements for travel inconveniences in the event of delayed bags and flights and allows reimbursements up to 75% if customers cancel trips for any reason. In addition, the company provides free telemedicine services and covers emergency (illness or injury) medical expenses during international trips.Moreover, Faye provides a Travel Advisor Portal (launched in March 2023), which allows travel advisors and agencies to learn, offer, and manage travel insurance with Faye. It also offers an API for embedded travel insurance that seamlessly integrates with travel distributor platforms.Key customers and partnershipsFaye’s travel insurance plans are underwritten by United States Fire Insurance Company.In July 2023, the company <a href="https://sp-edge.com/updates/20087">partnered with Air Doctor </a>, a platform connecting travelers to doctors worldwide, to offer telemedicine services to its customers. Customers can instantly connect with consultants via voice or video, while also benefiting from no out-of-pocket expenses and lengthy claims processes.Funding and financialsIn May 2023, the company raised <a href="https://sp-edge.com/updates/18813">USD 10 million in a Series A funding round </a>led by Munich Re Ventures. It planned to use the funds to double its pool of travel advisors and distribution partners, as well as quadruple its revenue in 2023.

<div>
 
 Root Insurance is a full-stack insurance provider focusing on usage-based automobile insurance. The company offers a mobile app that collects data on driving speeds, braking patterns, and driving times using smartphone sensors, and applies artificial intelligence (AI) and predictive models to offer a personalized premium to the customer. The company claimed that the latest model utilizes double the proprietary data, demonstrating 17% greater predictive capabilities than the previous model. Moreover, the app incentivizes safe driving by providing greater insight into one&rsquo;s driving patterns and issuing additional discounts for improved driving behavior. Root allows customers to file claims directly through the mobile app. As of January 2024, Root held a carrier license in 48 states and offered automobile insurance in 31 states.
 
 In July 2019, Root launched its renters&rsquo; insurance product and expanded to homeowners insurance in May 2020. The homeowners&rsquo; insurance is provided through a partnership with Homesite Insurance, a Boston-based property and casualty insurer that will underwrite any homeowners insurance policies issued by Root. As of January 2024, the company&rsquo;s renters&rsquo; insurance product was available in 18 states.
 
 
 Key customers and partnerships
 
 
 Root had 259,522 policies in force as of September 2023.
 
 
 Root entered into a partnership with Carvana in July 2022, to offer usage-based auto insurance policies on the latter&rsquo;s used-car online platform.
 
 
 In addition, it had also collaborated with other players in the insurance space to optimize and digitize its insurance services.In January 2021, Root partnered with Tractable, a UK-based provider of AI-based solutions, to leverage its AI Subro solution to optimize Root&rsquo;s end-to-end claims process, starting with subrogation, where two insurance carriers negotiate the division of expenses when multiple parties are involved in a claim. It also partnered with CCC Intelligence Solutions in February 2023, to use its first-party casualty solution to streamline and digitize first- and third-party casualty claims through a single digital workflow.
 
 
 Funding and financials
 
 
 In October 2020, Root sold 26.8 million shares in its initial public offering (IPO), raising USD 724.4 million in the process at a valuation of USD 6.8 billion. In 
 <a href="https://sp-edge.com/updates/8089">
 January 2022
 </a>
 , Root received a five-year term loan of USD 300 million from BlackRock Financial Management (BlackRock) to extend its debt maturity and improve its liquidity position.
 
 
 For the full year of 2022, Root reported total revenue of USD 310.8 million (down 10.0% YoY), while its net losses improved to USD 297.7 million from a loss of USD 521.1 million in 2021. Its gross loss ratio improved to 82.1% from 86.0% in 2021.
 
</div>

Root Insurance

<div>
 
 Hippo is a digital homeowner insurance provider. The company offers its homeowner policies online, with each policy accompanied by a complementary smart home monitoring system that will help identify risks proactively. It provides coverage using a combination of machine learning, satellite imagery, and other public records and actively reviews for any changes to the property overtime.
 
 
 Hippo also provides home insurance to buyers of newly built homes that is directly integrated to the digital mortgage and title process through its Builders business. Further, it launched 
 <a href="https://sp-edge.com/updates/16051">
 Hippo Builder Insurance Agency (HBIA)
 </a>
 in January 2023, to allow builders of all sizes to partner with HBIA to send leads of homeowners in return for a fee.
 
 
 The company also offers an on-demand homecare and maintenance app (Hippo Homecare) which it launched in 2019 following the acquisition of Sheltr, a home maintenance platform, during the same year. It also launched &ldquo;Book a Pro'' feature within its mobile app in Q4 2022, which allows homeowners based in Texas to connect to home improvement professionals as well as message its Hippo&rsquo;s own home care experts to get advice. Hippo also plans to roll-out this feature to other states in the future.
 
 
 In June 2020, Hippo entered into an agreement to acquire long-time insurance partner Spinnaker Insurance Company, which is a property and casualty insurer registered in all 50 states, for an undisclosed amount. The acquisition was expected to help the company expand its geographical reach. The company&rsquo;s homeowner offering was available in 40 states as of January 2023.
 
 
 Key customers and partnerships
 
 
 Hippo had 332,000 customers as of September 2022, and it claimed nearly 75% of its new customers were Gen B.
 
 
 The company partnered with property and casualty risk intelligence company, 
 <a href="https://sp-edge.com/updates/17629">
 Opterrix in April 2023
 </a>
 , to leverage its real-time data on severe weather events to identify at-risk policyholders and improve its claims management capabilities.
 
 
 Funding and financials
 
 
 In November 2020, Hippo raised USD 350 million from Mitsui Sumitomo Insurance company. The company expects to use this funding to support its national expansion plans and also evaluate acquisition opportunities to grow inorganically.
 
 
 For FY2022, the company recorded total generated premiums of USD 811.1 million, which was up 33.8% YoY. Its gross loss ratio improved 62 percentage points to 76% during the year, while its net loss improved 10.2% YoY to USD 333.4 million.
 
</div>

Hippo Insurance

Clearcover is a fully digital automobile insurance provider that offers insurance coverage and claims filing using online channels along with other value-added services such as roadside assistance. The company leverages AI and machine learning models to provide personalized pricing to its customers and validate claims. The company states that it can handle 96% of all claims virtually. Clearcover also launched a <a href="https://sp-edge.com/updates/27767">GenAI-powered claims intake tool</a> to navigate a conversation-driven experience after First Notice of Loss (FNOL) to collect information about an accident. The tool available through its mobile app includes a claims assistant and a real-time customer question resolution feature. It plans to incorporate the tool into its agent portal and website in the future.Clearcover also uses an application programming interface (API) to offer embedded car insurance. This powers <a href="https://sp-edge.com/updates/21232">Choice, </a>an end-to-end embedded auto insurance solution that allows brands to provide auto insurance policy options from various carriers to their customers.As of January 2024, Clearcover offered its policies in 19 states in the US.Key customers and partnershipsIn May 2020, Clearcover partnered with claims management solution vendor Snapsheet to fully digitize its own claims function from First Notification of Losses (FNOLs) to disbursements. Moreover, it collaborated with Experian to offer car insurance on the latter’s insurance comparison site <a href="https://sp-edge.com/updates/18045">in April 2023 </a>. This was part of Clearcover’s strategy to expand its distribution channels.Fundings and financialsIn April 2021, the company raised USD 200 million in a Series D funding round, led by Eldridge, at a valuation in excess of USD 1 billion. The company expects to use the funding toward product development and increasing headcount.For FY2022, the company generated total direct premiums written of USD 140.7 million (up 79% YoY) and recorded USD 61.4 million in net premiums earned. Its net losses amounted to USD 38.7 million for the year, while its loss ratio and combined loss ratios stood at 115% and 158%, respectively.

Clearcover

<div>
 
 Kin offers digital homeowners insurance with personalized policies featuring premiums determined based on an assessment of the property that includes more than 10,000 data points from sources such as property records, government records, and satellite imagery.&nbsp;
 
 
 The company launched its insurance carrier, the Kin Interinsurance Network, in 2019, which operates as a reciprocal exchange (a form of insurance where underwriting profits are shared with customers). As of May 2024, it had a presence in Alabama, Arizona, Florida, Georgia, Louisiana, Mississippi, South Carolina, Virginia, and Texas.
 
 
 In December 2021, Kin acquired an inactive insurance carrier with licenses in 43 states. This acquisition was part of Kin's plan to expand its operations to most US states.
 
 
 Key customers and partnerships
 
 
 As of February 2024, it served over 115,000 policyholders.
 
 
 The company has partnered with Kangaroo, a smart home tech provider, to offer its customers free home security solutions. Additionally, it has collaborated with Cape Analytics, a property analytics provider that utilizes geospatial imagery for property intelligence, and Snapsheet, a claims management platform provider, to automate their internal processes.
 
 
 Funding and financials
 
 
 Kin Insurance was set to go public through a merger with Omnichannel Acquisition Corp., a special-purpose acquisition company (SPAC) in a transaction that valued the company at over USD 1 billion. However, this was terminated in January 2022, citing unfavorable market conditions.&nbsp;&nbsp;
 
 
 In February 2024, the company received USD 15 million 
 <a href="https://sp-edge.com/updates/26317">
 investment
 </a>
 from Activate Capital, with the funds earmarked to accelerate growth by expanding into new markets and developing new products.
 
 
 Kin Insurance recorded gross written premium (GWP) of USD 344.1 million in 2023 (up 50.7% YoY), and generated operating income of USD 5.0 million compared to an operating loss of USD 11.6 million in the prior year.
 
 
 
</div>

Kin Insurance

Ladder is a startup that provides personalized term life insurance online, with coverage ranging from USD 100,000 to USD 8 million. The company uses multiple publicly available data points to determine a customer’s eligibility and in most cases does not require a medical checkup. Ladder provides a home visit medical test for free if required. Ladder’s dynamic approach to life insurance allows policyholders to increase or decrease insurance coverage based on changing life circumstances. Ladder also provides an application programming interface (API) which allows onboarded partners such as other insurance companies, investment firms, and lenders to issue policies from Ladder digitally. The company is licensed to operate in all 50 states. More than 80% of its customers represented first time insurance buyers.Key customers and partnershipsThe company sells its own life insurance policies in California through its carrier, Ladder Life Insurance Company. In New York policies are underwritten by Allianz Life Insurance, and in all other states by Fidelity Security Life Insurance, Amica Life Insurance Company, Lincoln Financial and USA LIfe Insurance.Ladder had collaborated with many financial service institutions to extend its product offering. It partnered with <a href="https://sp-edge.com/updates/25889">Envestnet | MoneyGuide</a>, AmeriSave Mortgage, and Halo Investing, to deliver its digital life insurance to customers through the advisors of the latter.Funding and financialsIn October 2021, the company raised USD 100 million in Series D funding co-led by Thomvest Ventures and OMERS Growth Equity, at a valuation of USD 900 million. The new funds will be directed towards further developing its products and expanding its workforce. As of the same date, the company also reported that its revenue grew by over 4x year-over-year (YoY).

Ladder

Startups in the automobile insurance space, predominantly providing usage-based insurance using telematics devices and/or smartphone sensors.

Startups that offer homeowners and renters insurance using artificial intelligence (AI) and smart home devices to issue policies and validate claims.

Startups that provide life insurance through digital channels personalized to an individual’s circumstances and replacing traditional practices, such as medical tests, with data-driven underwriting.

Companies that offer personal line covers for travel and pets through digital channels and use technologies such as flight tracking and online claims processing.

Providers of comparison websites and tools for carriers, agents, and insurers to compare and purchase policies.

Companies that provide personalized health insurance to consumers via digital channels and use technology such as wearable medical devices to monitor health and improve user experience and underwriting.

Companies that offer digital-only insurance for personal belongings (bicycles, mobile phones, laptops, and cameras), providing protection against theft, loss, or damage, with financial reimbursement or replacement.

IoTs used to proactively mitigate risks and offer usage-based insurance

Used for underwriting and claims; infrastructure providers offer AI/ML products to traditional insurers

Uses personal data to underwrite and price personalized policies such as usage-based insurance for vehicles

Limited number of life insurers use genetic/epigenetics to underwrite life insurance

<div>

 Travel insurance platform, Faye, has successfully raised USD 31 million in a Series B funding round. The round was led by Portage, and saw participation from Lumir Ventures, as well as existing investors F2 Venture Capital, Viola Ventures, and Munich Re Ventures. This funding round has increased Faye's total funding to an impressive USD 49 million. 

 With the new capital, Faye has outlined a number of key business development goals including: growth and business expansion, the creation of new products, and scaling of its operations across its insurance, travel, and FinTech offerings. Furthermore, the company has plans to expand its U.S. headquarters located in Virginia, as well as build out its existing offices situated in New York, Florida, and California.

</div>

Faye

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