Sayata raises $ 17 million for marketplace for insurance industry

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The Israeli insurtech company plans to double its workforce next year. CEO Asaf Lifshitz said “the market responded very well to our solution”

Meir Orbach 14:5908.25.21

Israeli insurance firm Sayata raised $ 17 million in its Series A funding round led by Team8 Capital and Vertex Ventures. Previous investors Elron, Kamet and OurCrowd also participated. Sataya has created a marketplace that allows businesses to purchase insurance in various fields.
Sayata CEO Asaf Lifshitz Photo: Mark Willson Sayata CEO Asaf Lifshitz Photo: Mark Willson

Excluding this latest round, the company has raised $ 10 million so far and is currently focusing on the cyber insurance market. With the new funds, the company is expected to double its 25 employees over the next year, most of whom are located in Israel. Sayata is also expected to expand its product to additional insurance lines.

Sayata was founded by CEO Asaf Lifshitz, CTO Avishay Maya and Idan Golomb, who is the company’s CPO (Chief Product Manager). The three founders are members of the same class of the famous IDF Talpiot program.

The company launched its first product for the cyber business insurance field in February 2020 and claims to have seen steady growth since. The company works with more than 1,000 agents at more than 75 of the largest insurance agencies in the United States, including with the top ten insurance companies in the United States.

Asaf Lifshitz, CEO of Sayata, said that “the market has responded very well to our solution since its launch, the agents and insurance companies we work with are asking to see more commercial insurance lines represented on the platform. , beyond cyber insurance ”.


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