Voom Raises $15 Million To Provide Usage-Based Insurance To Underserved Mobility Segments
11/12/21, 8:42 PM
Location
Money raised
$15 million
VOOM, creators of innovative insurance products for underserved mobility segments, announced $15 million in funding today to expand its usage-based insurance model to additional mobility verticals. The funding round was co-led by JAL Ventures and UP.Partners, with the participation of F2 Capital, Arbor Ventures, Verizon Ventures, and ICON Continuity Fund and brings VOOM's total funding to $22 million. Already the category leader for drones with tens of thousands of policies, VOOM launched the world's first Per-Mile insurance product for motorcycles in August and is expanding to offer usage-based insurance solutions for light aircraft, leisure vehicles and gig drivers.
Company Info
Location
palo alto, california, united states
Additional Info
VOOM is an innovative insurtech company, creating next-gen insurance products for Mobility. Its dynamically-priced, usage-based insurance products are designed for high-risk, episodic-use mobility verticals, including drones, e-scooters, motorcycles, and light planes. VOOM has offices in Tel Aviv, Israel and in Palo Alto, CA, VOOM is a licensed insurance broker in all 50 US states and in Canada. Visit VOOM's website at www.voominsurance.com