Israelbased earnix 75m 1bsolomon timesisrael fintech startup Earnix has just raised $75 million in funding to support its expansion plans. The company provides software to help insurers price their policies more accurately. The round was led by Insight Partners.
Fintech startup raises $75m to support expansion plans
Earnix is an Israel-based FinTech company that uses AI-powered advanced analytics to help banks and insurance companies customize their products and pricing. The company has recently raised $75 million in a growth round led by Insight Partners.
The new funding will be used to fuel the company’s international expansion. As a result, the company plans to double its global workforce by the end of this year. It also will expand its product portfolio, according to CEO Ziv Avni.
Founded in 2001, Earnix has been involved in the financial technology sector for over two decades. The company’s core product is a software platform that is designed to optimize pricing and product development. With its extensive set of data, Earnix is able to create personalised financial products for consumers.
Earnix has developed a unique AI-powered pricing platform that helps banks and insurance companies tailor their offerings to customers’ specific needs and preferences. This platform provides real-time quotes, rates, and financial products. Using the company’s advanced technology, banks and insurers can offer personalized loans, mortgages, and other products.
The company has offices in North America, Europe, and Asia Pacific. Earnix plans to continue to grow internationally and accelerate the development of new products. Investing in its product line will enable the company to quickly adapt to changes in the industry.
Insight Partners led the $75m funding round for earnix
Earnix is an Israeli FinTech startup that develops artificial intelligence (AI) and advanced analytics software. Its mission-critical systems help global insurers deliver personalised products and services. The company is currently valued at over $1 billion.
Earnix offers a self-designed enterprise rating engine that combines predictive modeling and optimization. This helps banks and insurers offer customised products, loans, and deposits. The company’s cloud-based platform incorporates enormous sets of data.
The latest round of funding for Earnix was led by US-based Insight Partners. Other investors included Vintage Investment Partners and Israel Growth Partners.
The new capital will allow Earnix to expand its footprint internationally and support M&A activities and product innovation. Earnix will also use the funds to hire more staff.
Its customers include NatWest Group Plc, Liberty Mutual, and Israe Dhabi. The company’s personalised offers are delivered through its self-designed, cloud-based platform. Using data from customers’ profiles, the platform can adjust rates and offers to fit each customer’s needs.
Earnix has offices in the Americas, Asia Pacific, Europe, and Israel. It is one of the most advanced companies in the industry.
Founded in 2001, Earnix has developed an AI-powered product personalisation platform. Using a combination of predictive modelling and optimization, the company’s software helps financial services companies predict risk and customer behavior.
Earnix has grown steadily over the years, and its latest round of funding has positioned the company as a “unicorn” by its own reckoning.
Its software helps insurers price policies more accurately
Earnix is a leading provider of predictive analytics solutions for the insurance industry. The company is known for its cloud-based platform which combines artificial intelligence with advanced analytics. Some of the company’s offerings include an end-to-end pricing and rating solution, telematics data for usage-based insurance, and a suite of data management tools. Its offices are based around the world, from the U.S. to Europe and Asia. With a recent fundraising of more than $75 million, the company is poised to make its mark on the global stage.
Earnix is not new to the market, having started life in 2010 as a spinoff from Givatayim. A team of industry veterans, including software engineers, has taken the company to new heights, notably winning over a slew of high-rolling angels and venture capitalists. As a result, it is now a true unicorn.
Earnix’s cloud-based platform enables banks and insurers to re-imagine their businesses. Insurers can leverage the company’s artificial intelligence capabilities to deliver personalized customer experiences, improve pricing and enhance customer service. For instance, a telematics-enabled device can provide real-time driver information, helping to streamline application processes, reduce fraud, and boost solvency. Additionally, the company’s suite of data management and automation solutions can help insurers get a better handle on their insurance policies. This is all while reducing waste and maximizing productivity.