What’s New at F2 | May
Yaffa Abadi
May 30, 2022
Oriient Raises $11M Series A for its Indoor Positioning Service
Oriient, the indoor positioning platform that powers Instacart shoppers to gather their orders in hundreds of stores in North America, announced its $11 million Series A round, which brings its total funding to $16 million.
“When we set out to build Oriient, our vision was to create the world’s first truly software-only indoor location solution. We knew it had to be accurate, cost-effective and scalable, and that we couldn’t compromise on those things,” says Mickey Balter, the company’s CEO and co-founder, This new round of funds will help us ride that momentum to the next level: illuminating all commercial buildings in the world with the visibility and data-driven insights of the digital world.”
Read more on their funding round and what’s next
Faye Launches Travel Insurance Offering for Customers Across the US
It’s fair to say that most travel insurance products are not so much built for consumers. Enter Faye, the company re-inventing consumer travel insurance. The platform covers trips, health, belongings, and pets via an app that sends alerts, has 24/7customer support and enables digital claims filing and electronic transfers of reimbursements to its Faye Wallet.
Co-founder and CEO Elad Schaffer explains, “as Travel insurance has become synonymous with lengthy, jargon-filled policies that leave travelers confused rather than well-informed … Faye is hitting the market as a solution to these pain points, at a time in which consumers are planning to travel more than ever before and are seeking solutions to look after them while on the road.”
Read more on Faye’s offering as they exit stealth mode with a bang
Justt Recognized by Forbes Survey of Top VCs as Israel’s Next Unicorn
Justt has been selected as one of the “Next Billion-Dollar Startups” for 2022 by Forbes Israel.
The Forbes list is formulated after consulting with 57 top VCs who were asked to recommend the companies they believe have the highest chance of reaching a value of $1 billion.
Founded in 2020, Justt is marching on with its chargeback mitigation solution that combines AI and human expertise to win merchants back their hard-earned money.
Read more on Justt’s recognition as a ‘soonicorn’
Parametrix Partners with IMA to Expand Distribution of Cloud Downtime Insurance
Parametrix Insurance has partnered with IMA Financial Group (IMA), a North American insurance brokerage firm specializing in risk management, insurance, wholesale brokerage, and wealth management, to help more companies protect themselves and their customers against losses from cloud downtime.
“Digital-native companies have become integral to society, and our clients must maintain uptime of their platforms to provide the best user experience. Through our partnership with Parametrix, we can add risk mitigation measures from the leader in cloud downtime insurance to protect our clients from outages,” said IMA Financial Group Director of Innovation and Strategy Garrett Droege.
