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 ($)
—Dec 2016
$2.0MJan 2018
$7.0MMay 2019
$22.0MOct 2021
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)
VOOM Insurance Business
Business models
B2C, B2B, B2G
Product stage
Released
Employees
11-50
Sector
Automotive & Mobility TechnologiesUrban MobilityFintech & InsurtechInsurtechTarget Customer
Energy, Utilities & Waste ManagementConsumersCore Technology
Artificial IntelligenceMachine LearningPlatforms & InterfacesMobileTags (12)
fintechrisk-managementmobile-applicationsinsurtechbig-data-analyticsdronessecuritysmart-mobilitysmart-cityrisk-assesmentse-scootersaasGeographic Markets
United StatesVOOM Insurance Financials
$22M
Total funding
Undisclosed
Capital raised
$15M
Last funding
B
Funding stage
4
Total rounds
8
Investors
Cumulative Funding Raised Over Time ($)
—Dec 2016
$2.0MJan 2018
$7.0MMay 2019
$22.0MOct 2021
Private Equity Funding
B Round
Oct 2021
$15M
JAL Ventures (Lead)
,
ICON Continuity Fund, UP.Partners, F2 Venture Capital, Verizon Ventures Israel, Arbor Ventures
A Round
May 2019
$5M
F2 Venture Capital, Verizon Ventures Israel, Arbor Ventures, Plug and Play, Kaedan Capital
Seed
Jan 2018
$2M
F2 Venture Capital, Verizon Ventures Israel, Kaedan Capital
Seed
Dec 2016
Undisclosed
VOOM Insurance Lifecycle
Cumulative Funding Raised Over Time
—Dec 2016
$2.0MJan 2018
$7.0MMay 2019
$22.0MOct 2021
All Events
B Round
Oct 2021
$15M
JAL Ventures (Lead)
,
ICON Continuity Fund, UP.Partners, F2 Venture Capital, Verizon Ventures Israel, Arbor Ventures
A Round
May 2019
$5M
F2 Venture Capital, Verizon Ventures Israel, Arbor Ventures, Plug and Play, Kaedan Capital
Seed
Jan 2018
$2M
F2 Venture Capital, Verizon Ventures Israel, Kaedan Capital
Seed
Dec 2016
Undisclosed
VOOM Insurance News
9 articles
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
growth-positive
Israeli drone insurance startup VOOM raises $5 million - Tech.eu
Tel Aviv-based insurance startup VOOM has raised $5 million in a funding round led by Arbor Ventures. The company offers insurance products for drones and on-demand insurance for various modes of transport. VOOM uses a telemetry-based risk analysis engine to provide real-time risk assessment and customize insurance policies. The funding brings the total amount raised by the company to $7 million.
Investment
growth-positive
DroneUp, SkyWatch.AI collaborate on UAS insurance coverage
DroneUp and Skywatch.AI have formed a partnership to provide liability coverage for missions flown by DroneUps pilots. The coverage will be carried by DroneUp at no additional charge to its pilots and includes property damage, bodily injury, and privacy claims. Skywatch.AI is a data analytics and insurance platform for drone pilots and fleet managers, while DroneUp is a network of individual pilots and pilot organizations for hire. The partnership aims to provide risk mitigation and seamless insurance solutions for drone operations.
PartnersCustomers
growth-positive
DroneUp and SkyWatch.AI Collaboration Puts Automated Insurance Solution into Drone Pilots' Hands - DRONELIFE
DroneUp, a leading drone pilot platform, has collaborated with Skywatch.AI to provide on-demand, automated flight insurance coverage to its licensed pilots. The integration allows Part 107 pilots to access insurance coverage for property damage, bodily injury, and privacy claims through the DroneUp app. The liability coverage is provided by DroneUp at no additional charge. The collaboration aims to mitigate risks for drone operations and enhance mission planning for DroneUps pilots. The insurance integration is now available through the DroneUp app, and pilots can also download the Skywatch.AI app. Both companies emphasize the importance of following FAA regulations and maintaining operational standards for drones.
Partners
growth-positive
Drone Data Analytics Platform SkyWatch Announces $2 Million in Seed Funding
SkyWatch, a data analysis and risk-reduction platform for the drone industry, has raised $2 million in a Seed round from F2 Capital, Verizon Ventures, and Kaedan Capital. The funding will be used to continue building the platform and develop on-demand insurance solutions. SkyWatch aims to revolutionize drone safety by providing operators with a holistic solution to manage flight safety. The companys mobile application will be available in Q1 2018, allowing operators to receive real-time hazard warnings and calculate a safety score for each flight. SkyWatchs software platform uses AI algorithms and data sources to analyze risks and prevent potential failures. The drone industry is expected to grow by $100 billion over the next five years.
Investment
VOOM Insurance Team
Employee Info
| Employees (range) | 11-50 |
| Exact count | 21 |
| Team members | 4 |
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VOOM Insurance Internal
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Admin Info
| Confidence | 91/100 |
| Missing | markets, not claimed |
| BI Verification | Yanina Wainscheinker |
| Registrar ID | 515538437 |
| Crunchbase | skywatch-technologies |
| Last updater | Jenny Sotnik-Talisman |
| Updater email | jenny.sotnik@sncentral.org |
| Last update | 2023-05-14T00:00:00.000Z |
| Created | 2017-02-13T00:00:00.000Z |