VOOM Insurance

Company Overview

Snapshot

Founded in October 2016 by Tomer Kashi and Ori Blumenthal, VOOM Insurance operates with 11–50 employees. The company has raised $22 million across 4 funding rounds from 8 investors. A key development was its recognition as a Gartner Cool Vendor in the 2021 Cool Vendors in Insurance report in May 2021, highlighting its innovative approach to flexible insurance options through technology.

Business overview

VOOM Insurance provides an on-demand, telematics-based insurance technology platform for specialized mobility products. The company's core technology leverages machine learning to assess and mitigate risks, offering usage-based insurance for high-risk, episodic-usage mobility verticals such as eScooters, eBikes, powersports, motor boats, and small planes. VOOM serves markets within the Fintech & Insurtech sector, with its initial product, SkyWatch.AI, focusing on drone pilots in the United States.

Strategic signal

In October 2021, VOOM raised $15 million to expand its usage-based insurance model into additional mobility verticals, including motorcycles, light aircraft, leisure vehicles, and gig drivers. This funding signals a strategic move to broaden its market reach beyond drones and disrupt the wider mobility insurance market by offering fairer, data-driven rates based on customer usage, indicating strong growth potential for investors.

Company Intelligence Q&A

What was a significant funding event for VOOM Insurance?

In October 2021, VOOM Insurance raised $15 million in a funding round co-led by. This round brought the company's total funding to $22 million and was aimed at expanding its usage-based insurance model to new mobility verticals.

What strategic partnership did VOOM Insurance establish for motorcycle insurance?

In August 2021, VOOM Insurance launched its first per-mile insurance offering for motorcycles in select US states through a collaboration with Markel Insurance Company. This initiative allows motorcyclists to customize their insurance and pay based on usage.

What recognition did VOOM Insurance receive from Gartner?

In May 2021, VOOM Insurance was recognized as a Gartner Cool Vendor in the 2021 Cool Vendors in Insurance report. This acknowledged the company's mission to provide flexible insurance options through technology for new mobility segments.

Who was appointed as Head of Marketing for VOOM Insurance?

In July 2021, VOOM Insurance appointed Amir Shneider as Head of Marketing. He was tasked with overseeing the company's product, Skywatch AI drone insurance, a move expected to contribute positively to the company's growth.

What was an early funding round for VOOM Insurance?

In May 2019, VOOM Insurance secured a Series A funding round from investors including. This funding supported the company's development of on-demand, telematics-based insurance for various specialized mobility modes.