Kota (formerly known as Yonder), a Dublin, Ireland-based insurtech startup building a platform for companies to manage employee benefits, secured €5 million ($5.2 million) in seed funding.
SaaS Investors
The round was led by EQT Ventures, with participation from Northzone and Frontline Ventures, as well as Job Van Der Voort, Romain Huet, and David Clarke, among others.
Founded in 2015, EQT Ventures is a venture capital investment firm based in Stockholm, Sweden. The firm prefers to invest in seed-stage, early-stage, and later-stage companies. The firm seeks to invest in information technology and SaaS sectors across Europe and the United States.
Kota Use of Funds
The company plans to use the funding to expand its operations in Europe, focusing on small to midsize companies and platforms in need of digitizing the benefits experience.
About Kota
Kota was co-founded by Luke Mackey, Patrick O’Boyle, and Deepak Baliga. Kota provides a platform for companies to manage employee benefits and insurance. It offers a platform for businesses to manage benefits and insurance cover for employees and an API for customers to embed health insurance services into their own platforms. Kota is currently active in the UK and Ireland where it has signed up several customers and partners.
Funding Details
Company: Yonder Technology Limited
Raised: €5.2M
Round: Seed Round
Lead Investor: EQT Ventures
Additional Investors: Northzone, Frontline Ventures, Job Van Der Voort
Company Website: https://www.kota.io/
Software Category: Insurance and Benefits Platform
Source: https://www.forbes.com/sites/jonathankeane/2023/10/25/kota-raises-52-million-for-its-employee-benefits-platform/