EasySend Raises $16M to Enable Insurance Companies and Financial Institutions to Build a No-Code Digital Future
EasySend Raises $16M to Enable Insurance Companies and Financial Institutions to Build a No-Code Digital Future
09/22/20, 1:27 PM
Location
tel avivMoney raised
$16 million
EasySend, the no-code AI-powered platform transforming manual processes into digital journeys, today announced it has raised $16 million in funding following the completion of an $11 million Series A round led by Hanaco with participation from Intel Capital. The investment follows a previously undisclosed $5 million seed round from existing investors Vertex Ventures and Menora Insurance and will enable the company to double its current staff across its offices, optimize its product development and expand its customer base in the U.S., Europe, and Asia.
Company Info
Location
tel aviv, tel aviv district, israel
Additional Info
In any case, the company has seen a big boost of business specifically out of the U.S., where revenues grew 10-fold. The startup has raised $71.5 million to date. The company started out first in traditional banking, but quickly saw the same problem and potential solution in a lot of adjacent markets. EasySend said it separately also secured $5 million in venture debt from Silicon Valley Bank. EasySend has some 100 enterprise customers today, spanning areas like education, government, financial services and insurance. The opportunity in the market that EasySend has been targeting is that typically a lot of businesses produce and use paper-based forms to gather information about customers, and the people who often formulate those materials are not technical.