DigitalOwl raises $6.5 million

Tel Aviv-based insurance startup DigitalOwl closed a $6.5 million seed financing round from Fusion LA, Ibex Investors, and Israeli insurer Menora Mivtachim.

Founded in 2017 and formerly known as Legal Automation, DigitalOwl has developed an AI system for underwriters and claim analysts, primarily working with health-related insurance products such as life, disability, workers’ compensation and income protection; to name a few. The system reads and analyzes medical documents automatically to extract the relevant medical information that is necessary for assessing risk or managing a claim.

Last year, the company was a team of ~5, today – ~35.