Voom Raises $15M in Funding
Summary
Voom, a Palo Alto, Calif.- and Tel Aviv, Israel-based creator of innovative insurance products for underserved mobility segments, raised $15m in funding. The round, which brought total funding to $22m, was co-led by JAL Ventures and UP.Partners, with participation from F2 Capital, Arbor Ventures, Verizon Ventures, and ICON Continuity Fund. The company intends to use the funds to expand its usage-based insurance model to additional mobility verticals. Led by Tomer Kashi, co-founder and CEO, Voom is creating insurance products for Mobility, which are dynamically-priced and usage-based and designed for high-risk, episodic-use mobility verticals, including drones, e-scooters, motorcycles, and light planes. The company is a licensed insurance broker in all 50 US states and in Canada.