About VOOM Insurance
VOOM Insurance is a company based in Palo Alto (United States) founded in 2016. It operates as a Pay-per-Use / Usage-Based. VOOM Insurance has raised $20 million across 2 funding rounds from investors including Verizon, Plug and Play Tech Center and JAL Ventures. VOOM Insurance offers products and services including Pay Per Mile Motorcycle Insurance, E-Bike Insurance, Drone Insurance, Light Aircraft Insurance, and Rideshare Insurance. VOOM Insurance operates in a competitive market with competitors including Clearcover, GreenRoad, Cambridge Mobile Telematics, Metromile and HDVI, among others.
- Headquarter Palo Alto, United States
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Sectors
Transportation, Automotive & LogisticsFinancial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Skywatch Insurance Services, Inc. D/B/A Voom Insurance
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$20 M (USD)
in 2 rounds
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Latest Funding Round
$15 M (USD), Series B
Oct 05, 2021
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Investors
Verizon
& 6 more
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Employee Count
Employee Count
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Products & Services of VOOM Insurance
VOOM Insurance offers a comprehensive portfolio of products and services, including Pay Per Mile Motorcycle Insurance, E-Bike Insurance, Drone Insurance, Light Aircraft Insurance, and Rideshare Insurance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Insurance is provided based on miles ridden annually.
Coverage is offered for electric bike owners specifically.
Protection is provided for drone operators and owners.
Insurance is available for light aircraft owners now.
Coverage is designed for rideshare drivers and vehicles.
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Funding Insights of VOOM Insurance
VOOM Insurance has successfully raised a total of $20M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $15 million completed in October 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Series B — $15.0M
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First Round
First Round
(22 May 2019)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct, 2021 | Amount | Series B - VOOM Insurance | Valuation | JAL Ventures , UP Partners | |
| May, 2019 | Amount | Series A - VOOM Insurance | Valuation | Arbor Ventures |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in VOOM Insurance
VOOM Insurance has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Verizon, Plug and Play Tech Center and JAL Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Founded Year | Domain | Location | |
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Investments in mobility sectors are made by UP Partners.
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Founded Year | Domain | Location | |
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Early-stage venture capital investing in Israeli startups across technology and innovation sectors.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by VOOM Insurance
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - VOOM Insurance
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Voom Insurance Comparisons
Competitors of VOOM Insurance
VOOM Insurance operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Clearcover, GreenRoad, Cambridge Mobile Telematics, Metromile and HDVI, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Automotive insurance is delivered via an online platform.
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| domain | founded_year | HQ Location |
Fleet telematics and management solutions for safe driving are provided.
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| domain | founded_year | HQ Location |
Usage-based data monitoring solutions for the auto insurance industry
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| domain | founded_year | HQ Location |
App that provides usage-based auto insurance platform for individuals
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| domain | founded_year | HQ Location |
Telematics-based data & monitoring solutions for auto insurers and fleet owners
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| domain | founded_year | HQ Location |
App-based auto insurance comparison is offered to individuals.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Voom Insurance
Frequently Asked Questions about VOOM Insurance
When was VOOM Insurance founded?
VOOM Insurance was founded in 2016 and raised its 1st funding round 3 years after it was founded.
Where is VOOM Insurance located?
VOOM Insurance is headquartered in Palo Alto, United States. It is registered at Palo Alto, California, United States.
Is VOOM Insurance a funded company?
VOOM Insurance is a funded company, having raised a total of $20M across 2 funding rounds to date. The company's 1st funding round was a Series A of $5M, raised on May 22, 2019.
What does VOOM Insurance do?
VOOM Insurance is engaged in offering innovative insurance products tailored to individual usage, primarily through a pay-per-mile model for motorcycles. Coverage is extended to various sectors including e-bikes, drones, light aircraft, and rideshare vehicles. Solutions are designed to ensure cost-effectiveness by charging based on actual miles ridden, with no tracking devices required. Policies are underwritten by Markel, a highly rated insurance company, ensuring financial strength and reliability. The company operates across multiple states in the USA, aiming to expand nationwide.
Who are the top competitors of VOOM Insurance?
VOOM Insurance's top competitors include Clearcover, Metromile and Sigo Insurance.
What products or services does VOOM Insurance offer?
VOOM Insurance offers Pay Per Mile Motorcycle Insurance, E-Bike Insurance, Drone Insurance, Light Aircraft Insurance, and Rideshare Insurance.
Who are VOOM Insurance's investors?
VOOM Insurance has 7 investors. Key investors include Verizon, Plug and Play Tech Center, JAL Ventures, UP Partners, and F2 Venture Capital.