Israeli startup EasySend raised $16 million in funding including an $11 million Series A round led by Hanaco with participation from Intel Capital, and a previously undisclosed $5 million seed round from existing investors Vertex Ventures and Menora Insurance.
Founded in 2016, EasySend helps financial enterprises improve customer experience and increase operational efficiency through a no-code, AI-powered platform that presents digital forms in a simple interface, transforming manual processes. The company works with sectors such as insurance, banking, and finance that still rely on manual, paper-based processes such as policy issuance, customer onboarding, and document submission and converts them into digital processes that can be carried out by non-technical staff.
“Hanaco is firmly invested in building a digital future. By bridging the gap between manual processes and digitization, EasySend is making this not only possible, but also easy, affordable, and practical,” said Hanaco founding partner Alon Lifshitz.
“The world is changing. COVID-19 forced traditional enterprises to embrace digital transformation and digital culture at a pace and scale never seen before,” said Tal Daskal, EasySend CEO and co-founder. “Our no-code platform is uniquely positioned to make this digital transition easier for enterprises from a wide range of industries – especially insurance and financial services – enabling them to create new digital products efficiently and effectively while boosting and creating digital opportunities which not only save on development and maintenance costs, but also drive revenue growth.”
The funding will help the company double its current staff and expand its customer base in the US, Europe, and Asia, EasySend said in a statement.
“Intel Capital chose to invest in EasySend because of its intelligent and impactful approach to accelerating digital transformation to improve customer experiences,” said Nick Washburn, senior managing director at Intel Capital.
“The last few months have demonstrated the need to go digital,” adds Yanai Oron, general partner at Vertex Ventures, who invested in the company’s seed round. “And as a result, the demand EasySend was experiencing for its solution became even higher.”
As part of the funding agreement Lifshitz and Roi Bar-Kat, investment director at Intel Capital will join EasySend’s board of directors.
EasySend previously took part in SAP.io’s foundry program in Tel Aviv last year.