VOOM Insurance Overview
VOOM offers an on-demand, telematics-based insurance technology platform for specialized mobility products designed to protect users for anything they ride, fly, or sail. Its data-driven, usage-based insurance products include multiple high-risk, episodic-usage mobility verticals, including eScooters, eBikes, powersports, motor boats, and small planes. The companys first product, SkyWatch.AI, leverages the power of machine learning to assess and mitigate risks and provide on-demand insurance for thousands of drone pilots operating across the United States. Headquartered in Tel Aviv with an office in Palo Alto, VOOM is a licensed insurance broker in all 50 states in the U.S. VOOM was named a cool vendor in Cool Vendors in Insurance, 2021 by the Gartner Research Group.
Cumulative Funding Raised Over Time ($)
Latest News
growth-positive
VOOM raises $15 million to provide insurance to more mobility vehicles
VOOM, an on-demand platform for specialized mobility insurance, has raised $15 million in funding to expand its usage-based insurance model to additional mobility verticals. The company plans to offer insurance for motorcycles, light aircraft, leisure vehicles, and gig drivers. The funding round was co-led by JAL Ventures and UP.Partners, bringing VOOMs total funding to $22 million. VOOM aims to disrupt the mobility insurance market by providing fairer rates based on new sources of data and customer usage. The companys innovative insurance products are expected to expand the share of insurtech in the insurance industry.
Investment
growth-positive
Israeli Insurtech Firm Voom Launches 1st Per-Mile Motorcycle Insurance
Voom, an Israeli insurance tech platform, has launched its first per-mile insurance offering for motorcycles in select states in the US. The insurance is in collaboration with Markel Insurance Company. Voom will distribute the per-mile product both directly and via select partners. The coverage is accompanied by online policy management and various other coverage options. This offering is especially ideal for motorcyclists who travel short distances or ride only occasionally, allowing them to customize their insurance and pay for the time they ride instead of predetermined rates.
PartnersCustomers
growth-positive
VOOM names Amir Shneider as Head of Marketing
VOOM, an insurtech company for high-risk vehicles, has appointed Amir Shneider as Head of Marketing. Shneider will oversee the companys product Skywatch AI drone insurance. The appointment is expected to have a positive impact on the companys growth. VOOM creates data-driven, usage-based insurance products for various high-risk mobility verticals, including drones, light planes, motorcycles, e-scooters, and e-bikes. Shneider replaces Ilan Yusim, who led the successful launch of Skywatch AI drone insurance. VOOM is headquartered in Tel Aviv with an office in Palo Alto, California.
Management Changes
growth-positive
VOOM Recognized as a Cool Vendor in Gartner 2021 Cool Vendors in Insurance
VOOM, the leading InsurTech company for new mobility, has been named a Gartner Cool Vendor in the 2021 Cool Vendors in Insurance report. The recognition highlights VOOMs mission to provide flexible insurance options through technology. Insurers can leverage VOOMs insurance platform to add on-demand products to their portfolio without the need for internal expertise or platforms. VOOM specializes in creating and distributing innovative insurance products for new-mobility segments, including drones, e-scooters, e-bikes, motorcycles, and light planes. The company is a licensed insurance broker in all 50 US states.
Partners
growth-positive
With Rise Of E-Scooters, Israeli Startup Voom Creates 1st Personalized AI-Based Insurance Tech
Israeli insurance platform Voom has closed a $5 million Series A funding round led by Arbor Ventures. The company aims to provide on-demand, telematics-based insurance coverage for various modes of specialized mobility, including e-scooters, drones, small private planes, small boats, and motorcycles. Vooms solution includes an individual AI-risk analysis and personalized pricing based on actual use and personal risk. The company plans to partner with ride-sharing platforms as distributors for their insurance products. Vooms new products for specialized mobility will first launch in the US, with potential expansion to other countries.
CustomersInvestment
| Sector | Fintech & Insurtech |
Funding
| Total funding | $22M |
| Last funding | $15M |
| Stage | B |
| Rounds | 4 |
| Investors | 8 |
Team Members
4
Employees: 11-50
Web & Social Links
| Website | www.voominsurance.com |
| Careers | Careers page |
Locations
HaArba'a Street 18a, Tel Aviv-Yafo, Israel
3921 Fabian Way, Palo Alto, CA, USA
Photos & Videos
2 item(s)
