Spott

Company Overview

Snapshot

Founded in January 2021 by Guy Salame, Amit Batzir, and Roma Bronstein, Spott operates with 1–10 employees. The company raised $8.3 million across one funding round from two investors, with Viola Ventures identified as a lead investor. Spott was acquired by Payoneer Global in August 2023.

Business overview

Spott is a data-powered insurance platform focused on providing dynamic insurance products for eCommerce businesses. The company's core technology aims to protect online retailers from financial losses due to issues like lawsuits, sales disruptions, and stockouts. Spott offers solutions such as liability insurance, suspension coverage, and stockout protection, serving the Fintech & Insurtech sector by making insurance accessible and efficient for merchants.

Strategic signal

Spott's acquisition by Payoneer Global in August 2023 signals a strategic move by Payoneer to expand its data capabilities and integrate insurance solutions into its financial ecosystem. This event highlights the increasing value of specialized insurtech platforms in supporting the broader digital commerce landscape, indicating a trend towards embedded financial services for online businesses.

Company Intelligence Q&A

What was a significant recent corporate development for Spott?

Spott was acquired by Payoneer Global in August 2023, leading to its current inactive status.

Which investors participated in Spott's funding rounds?

Spott received $8.3 million in funding from investors including Viola Ventures and Team8 across one funding round.

When was Spott founded?

Spott was founded in January 2021.

What is Spott's primary focus?

Spott focuses on providing data-powered insurance solutions specifically designed for eCommerce businesses to mitigate financial risks.

What was the total capital raised by Spott?

Spott raised a total of $8.3 million across its funding rounds.