Pendella Technologies Raises $5.2M in Seed-2 Funding
Summary
The company intends to use the funds to expand operations and its business reach. Founded by Robert Gaydos, Pendella provides an embedded, white-label individual life and disability insurance solution that empowers distributors and carriers to offer affordable life and disability insurance options to their customers. The technology automates the underwriting process through artificial intelligence and big data, creating an intuitive policy-buying experience where consumers can buy a policy completely online in minutes without a medical exam. The company’s proprietary recommendation engine tailors life insurance options to meet the unique needs of every customer regardless of age, health condition, or income level. The funding will support Pendella’s planned growth, as well as the more than 30 partnerships the company formed over the last 12 months with nationwide online retail agencies, a major publicly traded insurance broker and reinsurer, financial advisory firms and professional employee organizations.