Sproutt Insurance
Intelligence Platform for Buying Insurance
Company Overview
Snapshot
Founded in January 2018 by Yoav Shaham, Itai Brickner, and Assaf Henkin, Sproutt Insurance operates with 11–50 employees. The company raised $38 million across 2 funding rounds from 8 investors. In September 2021, Sproutt Insurance secured a funding round with MoreTech Ventures and The Raptor Group.
Business overview
Sproutt Insurance provides an intelligence platform designed to enhance the process of buying insurance. The company's core technology leverages predictive analytics to understand customer lifestyles, health, activities, and interests, aiming to deliver a more accurate and relevant user experience. Sproutt also focuses on optimizing customer engagement by offering personalized information, offers, and services tailored to individual user needs and lifestyles. It operates within the Fintech & Insurtech sector, serving both B2B and B2C markets.
Strategic signal
In May 2024, Sproutt Insurance faced significant operational challenges, with reports indicating the company was heading for bankruptcy despite previously achieving a $200 million valuation. This development signals a critical downturn for the insurtech startup, highlighting the volatile nature of the market and the intense pressures faced by companies in the growth stage, even after securing substantial funding.
Log in to access full profile ›Company Intelligence Q&A
- What is the current operational status of Sproutt Insurance?
- Sproutt Insurance is currently non-active, having ceased operations in June 2024.
- When was Sproutt Insurance founded and by whom?
- Sproutt Insurance was founded in January 2018 by Yoav Shaham, Itai Brickner, and Assaf Henkin.
- What was the most recent funding event for Sproutt Insurance?
- In September 2021, Sproutt Insurance secured a funding round with MoreTech Ventures and The Raptor Group.
- What was the reported financial situation of Sproutt Insurance in May 2024?
- In May 2024, Sproutt Insurance was reported to be heading for bankruptcy, despite having previously achieved a $200 million valuation and raising $38 million in total funding.
- What product did Sproutt Insurance launch in June 2022?
- In June 2022, Sproutt Insurance launched SmartLife for Agents, a tool designed to empower agents with predictive life insurance sales capabilities.