The new capital will enable the company, which is engaged in the development of marketing and analysis technologies and algorithms for insurance companies in the United States, to expand into new markets and continuing development of the technology * Menorah Mivtachim Deputy CEO and Investments Division manager Nir Maroz: The insurtech sector has great potential for good yields for the company’s customers and thus, we have made the investment as part of the diversification and varying of the investment portfolio.
The Kissterra insurtech company, which is engaged in the development of marketing and analysis technologies and algorithms for insurance companies in the United States, announced last week that it has raised 66 million dollars from the Menorah Mivtachim insurance and finance group. This the company’s first capital raising round, since its establishment in 2015 by Yiftach Kerzner and Segev Shilton.
The investment by Menorah Mivtachim will be from insureds’ and members’ moneys and from nostro funds.
Kissterra has developed an artificial intelligence-based basket of technological products which improve the marketing to customers of insurance companies in the United States and also the customer experience. The company’s products enable the insurance companies to reach potential customers for the purchase of an insurance policy, optimally and precisely and improves communication with them. The capital raised will be used for continuing technological development and expansion into other markets around the worldwide.
According to Kissterra CEO Segev Shilton: “We excited to be combining forces with Menorah Mivtachim and leveraging its expertise for the continuation of technological development and growth”.
Menorah Mivtachim Deputy CEO and Investments Division manager Nir Maroz: “The insurtech sector has great potential for superior yields for the company’s customers and thus we have made the investment in Kissterra as part of the diversification and varying of the investment portfolio. This company has great capabilities, quality managers, a company which is profitable and very great potential for profits and yields”.
