Insurtech startup MetaMorphoSys announced it has raised $ 3 million in a seed funding round led by Capital2B, a technology fund backed by Info Edge. Angel investors Pavitar Singh and Dhruv Dhanraj Behl also participated in the current funding round.
Founded in 2016 by Amit Naik and Kewal Vargante, MetaMorphoSys is a SaaS-based low code platform preconfigured with benefits, coverages, rules and vocabularies to help insurance companies launch innovative products across categories such as motor, travel, property, life, and health.
“The insurance industry is accelerating investments in digital platforms. Leading insurance companies across the globe are using the MetaMorphoSys Digital Insurance Platform to launch innovative products, empower their sales force, settle claims, identify fraud and optimize the entire value chain from customer acquisition to customer engagement including embedded insurance. We are thrilled by the trust instilled in us by our customers & investors as we continue our journey to streamline the insurance ecosystem,” said Amit Naik, CEO and co-founder, MetaMorphoSys Technologies.
The startup will utilise the funds to further innovate the SaaS based digital insurance platform, expand the product and sales team to other geographies and invest in out of box legacy integrations.
Earlier in 2020, the startup had raised funding from Good Capital.VC (Rohan and Arjun Malhotra) and Rahul Khanna, co-founder and managing partner, Trifecta Capital.
HrNxt.com Newsdesk has researchers and writers with an excellent domain knowledge about the talent ecosystem, and the business environment. The team keeps a tab on the latest happenings in the ecosystem to bring most relevant news and insights for our readers. You can connect with our newsdesk at newsdesk@hrnxt.com.