Israelbased earnix 75m the timesisrael: One Israeli-based startup recently announced a $75 million round of funding from investors. This brings the company’s total capital raising to more than $100 million. The company operates in North America, Europe and Australia.
Startup raises $75 million from investors
Earnix is an Israeli Fintech startup that provides mission-critical solutions for Insurance companies and Retail Banks. The company’s AI-driven software provides insurers with customized products and faster pricing. It has offices in Europe and the Americas.
Founded in 2001, Earnix uses artificial intelligence and analytics to develop mission-critical software solutions for insurance and retail banking organizations. The company’s software helps financial services firms predict risk, customize products and deliver better customer experiences.
The company has been growing since it was founded and now employs over 200 people. The company’s headquarters are in the Tel Aviv suburb of Givatayim. Besides its offices in Israel, Earnix also has offices in the Americas and Asia.
This new funding will allow Earnix to expand its global reach. It will be used to accelerate hiring and support M&A activities. In addition, the company will also increase its investment in product development and innovation.
This is one of several Israeli startups that have raised substantial amounts of capital recently. In fact, six Israeli start-ups have announced funding rounds of at least $100 million in January. Another, QLIK Technologies, is valued at $4 billion.
Earnix plans to expand its staff by over a third in the next year. The firm expects to grow by about 350 employees by the end of 2022. Currently, the firm employs 150 people in Israel.
Earnix is one of the most well-known Israeli start-ups in the financial technology space. Several of its major clients include NatWest Group Plc. Additionally, the company counts a number of other growth verticals.
Earnix’s latest round of funding was led by Insight Partners and Jerusalem Venture Partners. Other participants in the round included Israel Growth Investment Partners and Vintage Investment Partners.
According to the Earnix CEO, Reuven Ben Menachem, the firm will use the fresh capital to fuel international expansion. He said the company is uniquely positioned to capture consumer demand. With the help of the new investment, it will bridge the gap between the needs of financial institutions and the changing demands of consumers.
Earnix’s investment will also help to increase its speed to market. The company’s self-designed enterprise rating engine can adjust rates according to customer behavior.
New funding brings total capital raising to more than $100 million
Earlier this week, Israel’s tech sector broke a new funding record. This week’s investments include three rounds of more than $100 million and several other hefty sums. In total, Israeli companies raised about $10.5 billion in fundraising rounds through the end of October. Combined with the previous year’s record, that’s more than twice as much as the US, according to PitchBook.
While the number of capital raising rounds increased by nearly a quarter in the past five years, the most impressive increase was in the amount of investment per company. The total will reach $25.6 billion by 2021, according to the new Innovation Report from the Israel Innovation Authority. As in the US, foreign investors are a majorstay of Israeli startups, boosting their average price tags.
As for the best funding rounds, the newest entry in the Israel startup universe, TripActions, has snagged the largest single round to date. The startup, founded five years ago by Israelis in California, has more than 2,500 employees, and is rapidly expanding its global footprint. With its new funding, the company hopes to open additional locations in emerging markets like India and Russia. It is also one of the fastest-growing companies in the travel industry.
.However, if you’re looking for the highest-yield funding round of the month, the most impressive might be the one that comes in at $8.3 million. This round was led by a who’s who of the Israeli high-tech world. Other notable names include Tipalti, which received a $270 million funding round; OpenWeb, a Tel Aviv based ad-tech firm which closed a $170 million round; and Noname Security, which garnered a $135 million Series C round.
Israeli startups raised a record $1.44 billion in January
Israel’s tech ecosystem is thriving at a record pace, with private Israeli tech companies raising a record $25.6 billion in 2021. In January, six startups raised over $1.44 billion, according to Start-Up Nation Central, the leading startup NGO in Israel.
For a glimpse of how a growing startup community operates, start-up NGO Start-Up Nation Central analyzed all investments in the Israeli startup sector in January 2020. As expected, the FinTech and B2B payment industries led the pack.
According to the analysis, the largest funding round was in the VC mega-round. Six “mega” rounds of $100 million each accounted for over three-quarters of the total funds raised.
The first of these was a $75 million investment by Jerusalem Venture Partners in a fund backed by Vintage Investment Partners. This was the largest financing round in Israel for two years. A second large-scale round was in the fintech industry, where DriveNets raised $208 million at a valuation of more than one billion dollars.
The D Round was a bit smaller, with Melio, a B2B payments company, attracting $110 million. Another big round was by K Health, a telemedicine startup that received $132 million.
Although this month’s funding figures are modest, the smallest capital was raised in November. Last year, Israeli startups raised more than $10 billion. However, November’s figure was the lowest capital raised in a single month since October. Moreover, the global tech industry seems to be cooling down.
Start-Up Nation Central’s analysis of Israeli startups in January 2020 suggests that investors are recognizing the importance of the Israeli tech ecosystem. This is evident in the many new, advanced products and services that have been introduced.
Company operates in North America, Europe and Australia
The Israeli startup Earnix has recently raised $75 million in a financing round led by Insight Partners and Vintage Investment Partners. The company provides advanced analytics and personalized financial products to customers worldwide. This investment will help the company to continue accelerating its new product innovations and international expansion. It will also allow the company to accelerate hiring and support M&A activities.
Earnix has offices in Europe, North America and Asia Pacific. The company is driven by advanced Israeli technology and has a pre-money valuation of $1 billion. Its founder and executive chairman is Erel Margalit. Jerusalem Venture Partners (JVP) joined the financing round, along with Israel Growth Partners and Vintage Investment Partners. Jonathan Rosenbaum, an Israeli technology entrepreneur, will join the Earnix Board of Directors.