Roi Agababa, Novidea CEO Photo: David Grab
Novidea, a leading global provider of the data-driven, cloud-based platform that enables brokers, agents, and MGAs to drive operational efficiencies and growth across the entire distribution lifecycle, today announces the successful completion of $15 million in Series B financing. The round was led by JAL Ventures Fund II, with the participation of existing investors including KT Squared LLC and 2B Angels.
Many insurance businesses are encumbered by legacy systems that are limited, inflexible, and expensive to update. With Novidea, customers benefit from a cloud-based platform that makes it possible to work from any device, anywhere. This enables accelerated growth and profitability through enhanced sales and customer service, and improved operational efficiency.
Looking ahead, Novidea’s data-driven, cloud-based solution, which has already gained significant traction with more than 85 brokers, agents, and MGAs worldwide, including the US, UK, EMEA, and APAC, is set to continue to make a huge impact on the insurance sector.
