EasySend, a company that wants to help insurance companies, banks, and other financial services firms better develop their tech stack with an “AI-powered no-code platform,” has raised $16 million. The Tel Aviv based company reports that the Series A funding was led by Hanaco with participation from Intel Capital.
The new funding follows a previously undisclosed $5 million seed round from existing investors Vertex Ventures and Menora Insurance. The cash infusion will be used to boost staff and offices around the world as well as for further product development.
EasySend’s platform is designed to convert manual processes into “digital journeys” that can be optimized by non-technical staff without any coding via a simple drag and drop interface.
EasySend believes that now more than ever, financial services and insurance companies are searching for ways to digitize their operations effectively.
Tal Daskal, EasySend CEO and co-founder, says the world is changing and COVID has forced traditional businesses to embrace a digital transformation:
“Our no-code platform is uniquely positioned to make this digital transition easier for enterprises from a wide range of industries – especially insurance and financial services – enabling them to create new digital products efficiently and effectively while boosting and creating digital opportunities which not only save on development and maintenance costs, but also drive revenue growth.”
Nick Washburn, senior managing director, Intel Capital, added:
“EasySend’s no-code platform utilizes AI to digitize thousands of forms quickly and easily, reducing development time from months to days, and transforming customer journeys that have been paper-based, inefficient and frustrating. In today’s world, this is more critical than ever before.”
EasySend says it currently works with unnamed leading financial institutions in the U.S.A., Israel, and Europe, including top insurance companies.