Sayata operates a fully automated online marketplace that generates multiple insurance quotes from leading providers based on a few data points entered by a broker. The platform automates quote generation, supplies customized marketing materials, and forwards options to businesses so brokers can secure coverage faster; it primarily offers cyber insurance today. Customers have asked the company to add more lines of insurance, and Sayata plans to expand into additional coverage areas. The company reported over 10x revenue growth in 2021 and has more than 1,000 users representing over 100 brokerage and carrier partners, working with insurers including Axis, Brit, Hiscox and Tokio Marine and MGAs such as At-Bay, Coalition, Cowbell and Corvus. Founded in 2017 and based in Boston, Sayata has raised $60 million in total since inception. The new capital will be used to grow headcount (47 employees, up from 17 a year earlier) and pursue more of the SMB insurance market in the U.S., which the company estimates exceeds $100 billion. Sayata operates a marketplace for insurance brokers and carriers that streamlines the quote-bind-issue process. The platform enables insurance professionals to place more policies in a fraction of the time. Sayata offers an end-to-end technological solution and supplements that with educational tools. The product is positioned to reduce friction across placement and policy issuance workflows. The company announced a new financing round, indicating external investor support for its operations. No operating metrics or specific future plans were disclosed in the article.

Total raised

$52M

Funding rounds

2

Latest round

Series A

Latest activity

Jan 2022