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Four months after Intel shut it down, Ignite relaunches as an independent accelerator
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Israel launches its first domestically built quantum computer
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Boomi acquires Israeli data management startup Rivery in $100M deal
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Spyware startup Paragon acquired for up to $900M by investment firm AE
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The Wiz of GenAI security? “Lasso has the potential to be a once-in-a-decade company in cyber”
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Insurtech

20 stories about Insurtech
הנפקת למונייד בורסה ניו יורק

Lemonade shares soar after promising Q3 results

31.10.24|Sophie Shulman
Insurtech company signals turnaround with strong cash flow and positive revenue forecasts. 
Ken Riegler

After surpassing $110M in annual net revenue, At-Bay appoints Ken Riegler as President

06.08.24|CTech
The insurtech unicorn recorded gross insurance premiums of $301 million in 2023
הנפקת למונייד בורסת ניו יורק יולי 2020

Lemonade shares fall on Q2 results, 2024 forecast

31.07.24|Sophie Shulman
The insurtech company showed some positive progress in its latest earnings report, but its shares dropped after missing expectations.
אמיר כהן , אלעד צור ו דוד שפירו מייסדי Planck

Applied Systems acquires insurtech startup Planck in $300 million deal

23.07.24|Meir Orbach
The Israeli company will form the base for the insurance software giant’s AI Development Center in Israel. 
Honeycomb Insurance founders

Honeycomb raises $36M Series B for landlord insurance platform

07.05.24|Meir Orbach
The Israeli startup insures more than $21 billion worth of real estate assets and expects to triple that number in the next 12 months
Sproutt founders

From $200 million valuation to insolvency: Insurtech startup Sproutt heading for bankruptcy

01.05.24|Almog Azar
The Israeli startup raised $38 million since its founding in October 2017, but struggled to generate income and turned to the court due to its inability to pay its debts
רוני על דור נשיא ומנכל סאפיינס

Israeli insurtech company Sapiens, valued at nearly $2 billion, eyes sale

06.04.24|Reuters
Sapiens started exploring a sale after attracting takeover interest last summer and put its plans on hold after the outbreak of the war between Israel and Hamas. The company revived its efforts to sell itself a few weeks ago
הנפקת למונייד בורסת ניו יורק יולי 2020

Lemonade's stock crashes on 2024 forecast despite topping estimates

28.02.24|Sophie Shulman
The insurtech company's stock plummeted by 25% at the opening of trading on Wall Street following its forecast of doubling marketing expenses and a deceleration in revenue growth
Alon Microsoft

Microsoft looks at Israeli high-tech as its ‘Gas and Oil’ in the Middle East

24.01.24|James Spiro
As the company searches for potential growth engines in the region, it partnered with Sapiens as a way to better penetrate the insurtech industry.
DigitalOwl founders

Insurtech startup DigitalOwl raises $12 million from insurance giant RGA

09.01.24|Meir Orbach
The Israeli startup's platform provides automated reading, summarization, and analysis of medical records for insurance companies and lawyers, providing real-time, highly accurate assistance in their underwriting, claims settlement, and fraud prevention processes
וסטו Vesttoo

Vesttoo creditors claims reach $4.8 billion, but less than $100 million likely to be recovered

24.12.23|CTech
The bankruptcy court in Delaware conditionally sanctioned last week the reorganization plan under Chapter 11 for Vesttoo's bankruptcy, but according to industry website Artemis, it seems likely the creditors will only ultimately receive a miniscule portion of their claims
Boaz Fairmatic

Fairmatic appoints Boaz Ram as Vice President of Product

19.11.23|James Spiro
“His rich experience in managing and launching innovative products will be fundamental in Fairmatic's growth and expansion in the U.S. and other markets," added Founder and CEO Jonathan Matus.
וסטו Vesttoo

Creditors demand to liquidate Vesttoo and halt any attempt to reorganize the company

24.10.23|Meir Orbach
“Vesttoo – viewed as the Madoff of insurance – never operated as a business or as a going concern without revenue from the fraud,” read a statement by the Official Committee of Unsecured Creditors in the Vesttoo bankruptcy case
מייסדי וסטו יניב ברטלה ו אלון ליפשיץ

Court approves seizure of $30 million in assets from Vesttoo co-founders, execs

19.09.23|Meir Orbach
The request, submitted by the company and approved by the Tel Aviv District Court, included foreclosures totaling approximately $23 million on the assets of co-founders Yaniv Bertele and Alon Lifshitz, as well as foreclosures totaling $7.2 million on two former executives and a service provider
מייסדי וסטו יניב ברטלה ו אלון ליפשיץ

Vesttoo report claims co-founders “directly involved in creating fake documents and forging identities”

07.09.23|Meir Orbach
The insurtech’s board filed its first interim report with the bankruptcy court and confirmed the source of Letter of Credit allegations. "This is a biased and fundamentally flawed investigation, which targeted the company's founders from the beginning," Bertele said
יניב ברטלה וסטו

Ousted Vesttoo CEO appoints combative director to fight hostile board

07.09.23|Almog Azar
Co-founder Yaniv Bertele, who was officially fired by the board last week, has brought in attorney Ziv Ironi, regarded in Israel as a pioneer in the area of director activism, to fight on his behalf
יניב ברטלה וסטו

Vesttoo CEO breaks silence in message to employees: “We were entirely unaware of any document falsification”

04.09.23|CTech
“We were targeted, tried, accused, and swiftly condemned even before the investigation commenced,” Yaniv Bertele wrote in a long message sent directly to current and former employees on Monday
מייסדי Vesttoo

Court rules Vesttoo can’t make compensation payments to fired staff

27.08.23|CTech
Vesttoo, which laid off around 75% of its workforce last month, received approval to make payments of over $2.78 million to its remaining employees, but was told it currently can’t spend an additional $2.2 million related to compensation payments
עמי בר לב מנכ"ל ביקום עמי בר-לב

Vesttoo revenue reached $110 million in 2022 prior to fraud scandal

22.08.23|CTech
According to a declaratory filing as part of the company’s Chapter 11, interim CEO of the company Ami Barlev revealed that Vesttoo's revenue surged from $30 million in 2021 to $110 million in 2022
Vesttoo co-founders

Vesttoo in “active discussions" with potential investors to find alternative collateral

07.08.23|Reuters and CTech
The Israeli fintech company added in a statement that a core team of more than 50 people was working to seek alternative collateral, and the company would meet all its commitments to suppliers and consultants
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