Insurance broker marketplace Sayata has raised an additional $35m to the previous $17m raised just five months ago in its Series A round.
The Series A round, which began in August 2021, now totals $52m. The round was led by Pitango Growth and Hanaco Ventures, with participation from previous investors Team8 Capital, Vertex Ventures, Elron Ventures, and OurCrowd.
Sayata explained that its proprietary technology automates the time-consuming process of finding and securing business insurance. Brokers are freed from the manual tasks of hunting for quotes, shuffling applications, and the lengthy back and forth with insurance providers to finalise coverage.
The company said it will use the funds to accelerate the addition of new business insurance lines fulfilling the promise that brokers will always be able to quickly and easily find any business coverage for their small and medium-sized (SMB) clients regardless of market conditions.
Asaf Lifshitz, CEO of Sayata, said, “It’s rewarding to know that Sayata is helping brokers efficiently find relevant, cost-effective coverage options for their SMB clients. Their success is reflected in the more than 10X growth we’ve experienced in 2021.
“This latest raise will allow us to accelerate the process of adding new lines of commercial insurance with the same easy-to-use functionally giving brokers a single destination for finding and securing insurance for SMBs.”
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