Israel-based startup Atidot acquired $5 million in a Series A funding round led by Vertex Ventures, with the participation of existing investors The D.E. Shaw Group, Moneta Seeds, and Bank Hapoalim.
The company’s easy-to-use SaaS predictive analytics platform harnesses advanced artificial intelligence and machine learning that enable life insurers and annuity writers to make data-driven business decisions while enhancing their customer services. It utilizes underused and often neglected sources of data, as well as open access information to enhance existing actuarial and business models.
The funds are earmarked to scale Atidot’s operations and expand U.S. sales and customer support activities, as well actuarial science, data science, and software engineering teams.