Israeli insurtech company Assured allies today announced the closing of a $42.5 million Series B financing round. This brings the total amount raised by Assured Allies to $65 million. The capital raised will be used to produce the growth and expansion of the company’s network of carriers and partners.
The round was co-led by FinTLV Ventures and existing investor Harel Insurance, and was joined by new and existing investors including Lumir Ventures, Hamilton Lane, New Era Capital Partners, MS&AD ventures, Core Innovation Capital, Poalim Equity, EquiTrust Life Insurance Company, Akilia Partners and Samsung Next. The global mix of investors in this cycle underscores the universal need for innovation in the long-term care insurance market.
The Assured Allies platform combines machine learning and predictive analytics with the latest aging science and essential human support, to deliver aging programs proven to reduce the risk of disability, and new retirement products. generation that make long-term care insurance accessible and financially sustainable.
The funding comes amid meteoric growth for Assured Allies’ platform over the past year, after partnering with several major long-term care insurers and increasing the number of members on its platform. shape by more than 300%.
Assured Allies Co-Founder and CEO Roee Nahir said, “The need for innovative long-term care solutions for the aging population has never been greater. thanks to technology. We’ve grown rapidly over the past year despite the macroeconomic climate, and we’re only scratching the surface. This coming year, we expect continued growth as we focus on making AgeAssured available to more policyholders and expanding the network of carriers and partners for NeverStop. We look forward to bringing more innovative products to the long term care insurance market and to the 90 million Americans over the age of 55.
Assured Allies Co-Founder and President Dr. Afik Gal added, “The way people plan for aging and their expectations for aging are fundamentally changing and we’re excited to continue to lead the way with our proven solutions for make longevity financially sustainable. Roee and I were caregivers to our parents and grandparents, and that experience inspired us to start this business. We saw unnecessary suffering – physical and financial – and we recognized that to transform society, we must use science and technology-based innovation to interrupt the trajectory of aging and keep people at home for longer. possible. »
Assured Allies launched its first product, AgeAssured, in 2020. AgeAssured is a science-based platform to reduce disability and support aging in place at scale. It is offered in partnership with long-term care insurers and has proven effectiveness and cost-effectiveness in reducing premature age-related decline and enabling policyholders to continue to live independently in their homes.
Assured Allies launched its second product in 2022. NeverStop is an AI-powered, science-backed platform for creating, underwriting and supporting the next generation of retirement products. The NeverStop platform integrates digital underwriting, personalized risk reduction strategies and financial support, so people aged 55 and over can reduce their risk of disability and live longer and better at home.”
Published by Globes, Israel business news – en.globes.co.il – March 7, 2023.
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