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OpenEyes Grabs A Hefty Funding Of $23mn In Its Recent Funding

Things To Know About OpenEyes

The privately held company founded in 2005 is headquartered in Washington and holds specialty in software development, software services and customer services. The company works in the regions of United States and India and insure people regarding the easy and needful requirements of technology to reach and prosper on to it’s goals.

The company also offers commercial automotive insurance as well and aims to offer more competitive rates by reducing the hurdles arising in between.

Currently, the firm had undergone a funding round to fetch the sources who are supporting it to expand in the market. Below is the information regarding the same.

The round was led by global software investor named Insight Partners and Pitango First, with an active participation of MoreVC, which led the seed round together with Pitango First as per the sources.

As per the analysis of , the National Highway Traffic Safety Administration (NHTSA) it was estimated that the number of people who died in motor vehicle traffic crashes in the year of 2021 were increased by an aggression of 10.5% from 2020, which was highest since 2005.

How Will The Firm Use The Fundings

OpenEyes will use the funding to leverage the development of its cutting-edge technology with more hiring opportunities that will support its increasing US operations. Therefore, as per the reports date, OpenEyes has raised a total of $23m as it’s funding amount.

What Are The Views Of Leading Members Of The Firm On This 

Yoav Oron, co-founder and CEO, said, “Since our launch two years ago, we have witnessed first-hand how OpenEyes’ solution lowers the insurable risk and the cost of claims, but more importantly, we have seen accidents reduced and lives saved. We look forward to using the proceeds of our recent round to bring this to more customers in the North American market.”Eyal Niv, managing partner at Pitango First, added, “OpenEyes leverages cutting edge full stack technological solution to fundamentally alter the risk model of commercial fleets insurance. The integration between In-vehicle technology and insurance creates a new experience for fleet owners.”

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