DESAISIV, a MENA-based AI insurtech startup specializing in health insurance, has raised $2 million in a pre-seed funding round.
The round was led by 500 Global, Terra VC, Oqal angel investors, family offices, and a group of influential investors with backgrounds in top insurance companies across the MENA, UK, and USA.
Additionally, DESAISIV is backed by various international and regional organizations, including Sanabil 500, IPSD, TAQADAM KAUST, USAID, CrossBoundary, TASMU, and The CORE HTU.
The fresh funds will fuel DESAISIV’s growth in the MENA region, empowering the company to develop further groundbreaking AI products, expand its operations and teams, and venture into new markets.
Saed Khawaldeh, Co-Founder and CEO of DESAISIV declared, “Our mission is to revolutionise the insurance sector by leveraging the limitless potential of artificial intelligence. We envision a future where insurance becomes smarter, more efficient, and, most importantly, tailored to customer needs. Our sights are set on a global revolution. By harnessing the power of AI, we are reshaping the insurance industry worldwide, empowering insurers and clients with unprecedented capabilities and paving the way for a brighter future.”
The company aims to reshape the entire insurance sector through visionary leadership and the unparalleled potential of the next-generation insurance customization platform, powered by state-of-the-art AI.
Company: DESAISIV LTD.
Round: Seed Round
Funding Month: July 2023
Lead Investors: 500 Global, Terra VC, Oqal angel investors, family offices and a group of influential investors
Additional Investors: Sanabil 500, IPSD, TAQADAM KAUST, USAID, CrossBoundary, TASMU, and The CORE HTU
Company Website: https://desaisiv.com/
Software Category: Commercial Insurance Data Platform
About the Company: Founded in 2020 by Saed Khawaldeh and Mohamad Nabhan in Saudi Arabia, DESAISIV is an InsurTech B2B company offering bespoke AI SaaS that exploits billions of data points to optimize insurance processes. Its AI-powered products streamline various facets of health insurance, automating underwriting procedures, tailoring policies to provide optimized benefits and coverage, predicting emerging diseases, identifying high-risk behaviors, and reducing customer attrition.