Tytocare tytohome-mobile-s
Ivix, an Israeli fintech startup that offers solutions for catching tax cheats, raised $12.5 million in a Series A funding round led by Insight Partners. The company’s total funding to date is now $25.5 million. And TytoCare, an Israeli startup that develops and markets remote diagnostic devices for telehealth, completed a $49 million financing round. TytoCare has now raised a total of $205 million to date.
Founded in 2012 by CEO Dedi Gilad and COO Ofer Tzadik, TytoCare works with leading health plans and providers to roll out Home Smart Clinic solutions that enable accessible, high-quality primary care from home, with no compromises. The Home Smart Clinic solutions include remote physical exams that work across primary care modalities and can be tailored to any cohort or population.
“The last 3-4 years have been very interesting”, Gilad told Globes. “Covid seemed to be creating amazing opportunities in the field of telehealth, but when the restrictions were lifted, most patients preferred to go back to in-person consultations. During Covid, our customers, the health systems, suffered financially from declines in the volume of elective surgery.”
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Powered by artificial intelligence and machine learning, IVIX gathers and enriches publicly available business activity data to accurately identify businesses, their revenue, and the taxpayer entity.
It is getting easier these days for people to hide their money. And this means that it is getting harder for governments to catch people who hide their assets to avoid paying taxes on them. After 9/11, things went in the other direction. The War on Terror led governments to cooperate on financial matters like never before. Even Switzerland was forced to share information about all of those anonymous numbered accounts. While this was done to go after the hidden money which funds terrorism, it had the added benefit of giving governments more information about their own citizens’ foreign assets.
So what are governments to do now? This is where Ivix comes in. The company explains that global tax evasion is around $20 trillion annually, resulting in $6 trillion annually in lost revenue. IVIX states that they close the tax gap by enabling tax authorities around the world to reduce widespread evasion effectively. The company develops tailored technologies that automatically analyze public data sources to identify in-scale tax evasion. This allows tax authorities to utilize their resources more efficiently, increase collection, and promote deterrence.
“The Seed fundraising took place during the good old days of 2021, while the Series A occurred in a more challenging period, which is why it is lower,” CEO Matan Fattal told Calcalist. “Despite the difficulties, there has been a significant positive growth in the value of the company. Raising the current round was a very different experience. The market conditions were tougher, but the company is in a much better situation now.”
