Fairmatic News
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Fairmatic raises $46 million for AI-powered commercial auto insurance platform | CTech
Fairmatic, an Israeli-founded AI-powered commercial auto insurance company, has raised $46 million in new funding, bringing its total financing to $88 million. The funding round was led by Battery Ventures with participation from current investors. Fairmatic has developed an AI-driven underwriting approach that aims to transform commercial auto insurance. The company provides fleets with continuous savings opportunities by monitoring driving events and offering improvement tips. As part of its Series B funding, Fairmatic is opening a new R&D hub in Israel to scale its AI and data-science capabilities. The R&D hub will be led by Guy Shaviv, a former NASA researcher. Fairmatic aims to improve road safety and profitability through its AI innovation.
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Guy Shaviv joins Fairmatic to build R&D hub in Israel | CTech
Insurtech startup Fairmatic has appointed Guy Shaviv as Head of Engineering to lead the development of its new R&D hub in Israel. The company has experienced increased demand for its AI-powered commercial auto insurance platform and is establishing a technology hub in Israel to advance its data-driven risk models. Fairmatic is seeking to recruit 30 local engineers. Shaviv brings over 20 years of experience in building and leading R&D teams. Prior to joining Fairmatic, he worked at Nexar, Fieldin, Houzz, Virtio, and NASA. Fairmatics CEO and Founder, Jonathan Matus, expressed excitement about Shavivs appointment and his expertise in engineering and data science.
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Insurtech co Fairmatic raises $42m, to open Israel R&D center
Fairmatic, an insurtech company, has completed a $42 million Series A financing round led by Foundation Capital. The company is using big data and AI to disrupt the commercial auto market for company fleets. Fairmatic offers an alternative to outdated commercial auto insurance models by harnessing sensor data, including smartphone data, to provide real-time safety analysis and create corporate insurance packages. The company has tested its predictive risk model with hundreds of thousands of drivers and achieved best-in-class underwriting results. Fairmatic plans to hire 30 product development and data science specialists in Israel for a new development center. The funding will support the companys growth and expansion.
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