Insurtech company LeO completes $5 million Seed round
The round was led by iAngels and Menara Ventures, which will help the company expand its activities in the U.S. market
It is understood that Unicorn Technologies invested $750,000.LeO is developing an artificial intelligence platform that produces and makes information more accessible for salespeople, insurance agents, and other officials. The company, founded in 2017 and run by Liri Halperin Segal, has developed a “personal AI sales assistant” in the industry. Prior to this round, LeO raised roughly $3 million from investors such as ICONYC and angel investors such as Eric Banoun, Dima Shafranovich, Jonathan Lampert, Gil Smolinski, and others. The Israel Innovation Authority received approvals for grants totaling NIS 1.8 million ($565,000).
In 2020, LeO was selected by Accord as one of the top 10 companies in innovation. It has signed a license and services agreement with one of the 10 largest insurance agencies in the U.S, as well as pilot agreements with other agencies. Today it has integrated with an unnamed American technology giant based in the insurance sector that boasts a value of $5 billion, and serves more than 500,000 users. In 2017, it received a $120,000 investment from Techstars and also also included investment from SFBI. The company has raised $8 million to date.