Sayata raises $17 million

Commercial risk platform Sayata has raised $17 million in a Series A funding round led by Team8 Capital and Vertex Ventures, who joined original investors Elron, Kamet, and OurCrowd.

Founded in 2016 as a cyber risk assessment provider, the company is now expanding to serve the broader commercial insurance market; working with several insurers and MGAs.

“This round is coming just as we’re hitting our stride. The market has responded incredibly well to our offering since launch with both our broker and carrier partners asking to see more business insurance lines represented on the platform. As the broker and insurer communities increasingly rely on us, we’re excited to help them win more business. With the backing of Team8, Vertex, and our existing investors, we’re going to deliver just that.” – Asaf Lifshitz, CEO of Sayata.

“We were immediately taken with Sayata. We’ve seen our share of startups, specifically InsurTechs, and Sayata’s growth is exceptional because they’ve clearly identified a market need – the ability to automate the business insurance sales cycle in a way that removes friction and ambiguity. This allows the broker, insurer, and client to get what they need with less work and in less time. Sayata’s ongoing expansion into new lines of coverage will provide even more value to those that offer or need business insurance within the $100 bn SMB insurance market.” – Sarit Firon, Managing Partner at Team8 Capital.

“Naturally we were excited about Sayata’s growth in such a short time. But more so, we were impressed with their diverse team of seasoned insurance and technology minds. Sayata leverages its combined talent to discover creative solutions to solve long-standing industry problems. This is a major factor contributing to their current success and will only continue to fuel their growth into new frontiers as they continue to develop meaningful solutions for brokers and insurers alike.” – Aviad Ariel, General Partner at Vertex Ventures,