·3 min read
FORT MYERS, FL / ACCESSWIRE / April 28, 2023 / Pendella Technologies has announced the completion of $2.7 million in fundraising, with Naples Technology Ventures participating as the lead investor.
This latest funding round supports Pendella's ongoing mission to disrupt the life insurance market with its white-label individual life and disability insurance offerings.
NTV, a leading venture capital firm based in Naples, Fla., specializes in backing companies providing solutions for regulated industries, such as insurance, with a focus on SaaS companies utilizing advanced technologies.
Founded by recognized insurance benefits expert Robert Gaydos, Pendella is closing the life insurance coverage gap through its AI-powered automated underwriting process.
Pendella's embedded technology enables distributors and carriers to easily offer comprehensive and affordable coverage through a customized online platform. The result is a seamless and highly intuitive policy-buying experience that gives consumers the ability to buy a policy online in minutes - without the need for a medical exam.
More than 100 million Americans are currently without life insurance or underinsured, according to financial research firm LIMRA. At the same time, consumer preferences for online life insurance shopping and purchasing increased 29% over the last six years, demonstrating the huge opportunity that exists in this space.
"Pendella's technology is revolutionizing the life insurance industry at a time when more efficient options are needed for people to get the coverage they need," said Mike Abbaei, Managing Partner at NTV. "We are proud to support the strong Pendella management team and the company's important mission to help protect the financial future of American families."
"We are grateful to NTV for their investment in Pendella as we work to provide innovative opportunities to close the coverage gap," said Gaydos. "Our team is committed to ensuring more people can access this important financial protection."
The funding will support Pendella's continued growth, as well as the more than 100 partnerships the company formed over the last 12 months with human capital management companies, national insurance agencies, professional employee organizations (PEOs), and financial advisory firms.
Pendella is a technology company that exists to make the financial protection of individual life and disability insurance available to all. Pendella's full-stack, enterprise SaaS solution is powered by artificial intelligence and big data to automate underwriting and deliver a simple and intuitive experience to thousands of people through partnerships with top-rated insurance carriers and distributors. White-label customization enables a seamless end-to-end experience, providing life and disability insurance in minutes with no paperwork, no medical exams, and minimal effort.
About Naples Technology Ventures
Naples Technology Ventures is a Venture Capital Firm that invests in early-stage technology and services companies. NTV looks for companies that show strong value-add and demonstrate being in emergent and/or expanding markets with both Software-As-A-Service (SaaS) and/or a Services-based model. NTV focuses on investments in Series Seed and Series A+ rounds.
Account Manager at Intelligent Relations PR Associates of Pendella
Jr PR Associate at Intelligent Relations PR Associates of Pendella