Kissterra, an Israeli insurtech startup, raised $10 million from Poalim Equity, the investment arm of Bank Hapoalim. The raise comes less than a year after the company brought in $66 million from Menora Mivtachim. Kissterra has now raised $76 million to date.
Founded in 2015 by company president Iftach Kerzner and CEO Segev Shilton, Kissterra develops new tech the company boasts can aid insurance companies to become more profitable through better digital marketing of policies. The company explains that most insurance companies market their products in the same way to each customer; even though, prices differ depending on the circumstances and the needs of the individual client. So, this leads to problems caused by inefficient marketing and high customer acquisition costs.
“We have built revolutionary platforms that simplify what were once unbearable tasks. Ease of use, as well as accuracy and robustness, are the standard for all our products.”
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“We didn’t want to just crunch numbers and provide quid pro quo,” said Kerzner about Kissterra. “We wanted to create an environment where people can make money, but also grow – on a personal and professional level. And though we’ve eventually become a successful Insurtech company that supports America’s leading insurance companies, we continue to humbly strive to get better at what we do every day. Becoming a stronger, healthier company is mission-critical. Now it’s not about the money anymore, but so we can have a positive impact on people’s lives.”
“At Kissterra, we have been extremely fortunate to have been bootstrapped from the start and grow organically, without any external fundraising, thus far,” he said about the company’s policy of acquiring funding from within Israel. “We were lucky enough to be profitable from the get-go, and reach many of the leading clients within the insurance industry, all on our own.”