Predict your next investment

Other
harel-group.co.il

See what CB Insights has to offer

Investments

3

About Harel Group

Harel Group is an investor based out of Ramat Gan, Israel.

Harel Group Headquarter Location

Harel Building 3 Abba Hillel Silver Street

Ramat Gan, 52118,

Israel

972 3 7549400

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Research containing Harel Group

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Harel Group in 1 CB Insights research brief, most recently on May 24, 2021.

Latest Harel Group News

Sproutt Raises $26M for Life Insurance that Incentivizes Healthy Behavior

Sep 14, 2021

The company now offers instant-issue life-insurance policies both direct-to-consumers and through the 1.2 million licensed insurance sellers in the US via its new Agent Platform. Sproutt , a New York-based life insurance distribution startup focusing on the wellness of the applicant and policyholder, has announced a $26m Series B round led by MoreTech Ventures (Tel Aviv) with investment from Harel Group (Ramat Gan, Israel), The Raptor Group (Boston), and Falcon Edge Capital (New York), alongside existing investors. The announcement says the funds will be used to further bring Sproutt’s health-incentivizing instant-issue life insurance policies direct to customers and agents. The funds will also be used to roll out a new predictive life insurance product, developed from hundreds of thousands of data points gathered from Sproutt’s customer base, according to the announcement. Yoav Shaham, CEO and Co-Founder, Sproutt. Sproutt characterizes its consumer proposition as departing from the standard of the traditional life insurance industry which primarily penalizes individuals for negative elements of their lifestyles. Sproutt says its policies also take into account the positive elements of each individuals’ lifestyle. The company’s  Quality of Life Index  (QLI) assesses behaviors that reflect healthy living—movement, sleep, emotional health, nutrition, and overall lifestyle balance—to personalize the policy for each customer based on their individual QL score. The higher the customer’s QL score, the lower their risk. This allows customers with high QL scores to get personalized life insurance policies that reward them for the healthy behaviors in their lifestyle following a simple 15 minute digital process. “Most people have at least one aspect of their lifestyle that is healthier than they think—whether it be how they sleep, how much they move, or what they eat,” comments  Yoav Shaham, CEO & Co-Founder, Sproutt. “At Sproutt, we are leveraging the QLI we’ve developed to discover the hidden healthy behaviors that exist in each person and reward them with the best possible life insurance to reflect their lifestyle. This investment is a huge vote of confidence in Sproutt from investors that see how the market is changing and believe in our vision to redefine what life insurance can do for those who prioritize healthy living.” Assaf Henkin, President, Sproutt. Tailored Life Insurance Products As a complement to its direct-to-consumer sales model, the company recently launched a dedicated Agent Platform, enabling U.S.-licensed insurance sellers to offer Sproutt’s life insurance policies. “The pandemic threw a wrench into the process of face-to-face sales for insurance sellers, widening the ‘needs gap’ of  41 million  Americans needing but lacking life insurance,” comments Assaf Henkin, President & Co-Founder, Sproutt. “When brokers started approaching us requesting access to our tailored life-insurance policies, we knew we could fill this gap and help a large segment of the population gain access to quality policies.” “We see a huge opportunity to revolutionize the way life insurance is priced and delivered to customers through data analytics, real-time policy issuance, cheaper coverage and long-term user engagement,” comments Sam Bernstein, Partner, MoreTech Ventures. “Unlike auto and home, life insurance is a largely paper driven and slow-moving process in which large parts of society find themselves uninsured, underinsured, or paying expensive premiums. We are excited to be supporting Sproutt as it accelerates its unique offering directly to consumers and agencies.” Tomer Goldberg, Managing Director, Harel Technolgy investments “Sproutt has achieved strong product/market fit and great momentum by addressing the flaws in the way traditional life insurance has been designed and sold historically,” says Peter Monaco, Managing Director, Raptor Group. “By using their Quality of Life Index Platform to reward healthy behaviors in individuals, Sproutt is able to offer a more personalized product offering to customers. Raptor Group prides itself on supporting companies with disruptive visions that deliver improved value to consumers and we look forward to helping accelerate Sproutt’s mission to do just that.” “Sproutt is at an exciting stage of their growth journey, and we are thrilled to be a part of it,” comments Tomer Goldberg, Managing Director, Harel Technolgy investments, Harel Insurance and Finance Group. “We are confident that Sproutt will be an important partner and player in the evolution of the life insurance landscape, and eagerly anticipate seeing how they can bring wellness-centric life insurance to as many customers as possible.” Anthony R. O’Donnell // Anthony O'Donnell is Executive Editor of Insurance Innovation Reporter. For nearly two decades, he has been an observer and commentator on the use of information technology in the insurance industry, following industry trends and writing about the use of IT across all sectors of the insurance industry. He can be reached at [email protected] or (503) 936-2803. Leave a Comment

Harel Group Investments

3 Investments

Harel Group has made 3 investments. Their latest investment was in Sproutt as part of their Series B on September 9, 2021.

CBI Logo

Harel Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/14/2021

Series B

Sproutt

$26M

Yes

2

5/20/2021

Series D

Subscribe to see more

$99M

Subscribe to see more

10

11/10/2020

Corporate Minority

Subscribe to see more

$99M

Subscribe to see more

10

Date

9/14/2021

5/20/2021

11/10/2020

Round

Series B

Series D

Corporate Minority

Company

Sproutt

Subscribe to see more

Subscribe to see more

Amount

$26M

$99M

$99M

New?

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

2

10

10

Harel Group Acquisitions

1 Acquisition

Harel Group acquired 1 company. Their latest acquisition was Shirbit Inusrance on May 05, 2021.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/5/2021

$991

Acquired

1

Date

5/5/2021

Investment Stage

Companies

Valuation

$991

Total Funding

Note

Acquired

Sources

1

Harel Group Team

2 Team Members

Harel Group has 2 team members, including former Chief Executive Officer, Yair Hamburger.

Name

Work History

Title

Status

Yair Hamburger

Chief Executive Officer

Former

Avi Zimerman

Chief Executive Officer

Former

Name

Yair Hamburger

Avi Zimerman

Work History

Title

Chief Executive Officer

Chief Executive Officer

Status

Former

Former

CB Insights uses Cookies

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.