Insurtech Platform Provider Novidea Secures $15 Million in Series B
Summary
Proceeds will enable the expansion of operations in the US, UK, and international markets, and accelerate product innovation as Novidea further engages with large, enterprise insurance firms 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. 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. Novidea is a leading global provider of the data-driven platform that enables brokers, agents, and MGAs to drive operational efficiencies and growth across the entire distribution lifecycle. The Novidea platform, built to leverage the power of Salesforce Big Technology, provides a complete ecosystem that covers every aspect of an insurance business, including a 360-degree view of all management information, an integrated front- middle and back office, and automated workflows that streamline every phase of the customer journey.