Renova
A no-code platform for streamlined support and a white-label app to meet modern customer expectations.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor investor investor investor | €0.0 Valuation: €0.0 | round | |
| N/A | €0.0 | round | |
| investor investor investor investor investor investor investor | €0.0 Valuation: €0.0 | round | |
| investor investor | €0.0 | round | |
| N/A | N/A | Seed | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 215 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Renova is a cutting-edge startup that provides a seamless digital transformation solution for traditional insurance companies. Founded by Anastasiia Faizulenova, Renova addresses the significant challenges that traditional insurers face in maintaining market share amidst the rise of well-funded, disruptive neo-insurance competitors. The company operates in the insurance technology (InsurTech) market, which is currently undergoing a digital revolution.
Renova's primary offering is an AI-driven, no-code platform that allows insurance companies to digitize their operations effortlessly. This platform includes a white-label customer app, enabling insurers to centralize all client inquiries and automate over 90% of requests using artificial intelligence. This allows insurance companies to focus on delivering top-notch insurance services while Renova handles the digital backend.
The business model is straightforward: Renova provides its platform as a service to insurance companies, charging them for the use of its technology. This can include subscription fees, usage-based charges, or a combination of both. By offering a no-code solution, Renova eliminates the need for insurers to invest heavily in in-house development, which can be both costly and time-consuming.
Renova's clients are primarily traditional insurance companies looking to modernize their operations and improve customer service without the extensive investment typically required for digital transformation. The company ensures compliance with international privacy rules, addressing concerns about data privacy and security, which are critical in the insurance industry.
In summary, Renova is revolutionizing the insurance industry by providing an easy-to-implement digital solution that helps traditional insurers compete with new, tech-savvy entrants. The company makes money through a service-based model, offering its AI-driven platform to insurance providers who need to modernize quickly and efficiently.
Keywords: InsurTech, AI-driven, no-code platform, digital transformation, insurance, customer app, automation, privacy compliance, subscription service, traditional insurers.