ForMotiv
Latest round
- Seed
Last raised
- Sep 2021
Total raised
- $7.4M
Investors
- 3
About ForMotiv
ForMotiv LLC specializes in behavioral analytics for the insurance industry, assisting carriers in understanding applicant behavior. The company was founded in 2017 in Philadelphia, US, by Andrew Schwabe and Mike Mayock.ForMotiv specializes in behavioral analytics tailored specifically for the insurance sector, providing solutions that empower carriers to better understand applicant behavior during the underwriting process. Their core offerings encompass a range of modules designed for various insurance products, including personal lines, commercial lines, and specific vehicles such as motorcycles and boats, as well as life insurance options like term, whole, and universal products. By leveraging insights from billions of digital insurance transactions, ForMotiv's platform captures over 5,000 behavioral data points throughout the online quoting and binding processes. This analysis includes metrics such as typing speed, time spent on applications, and user corrections, enabling insurers to gauge the intent level of applicants—differentiating between genuine interest and potential fraudulent behavior.ForMotiv operates on a B2B model, providing subscription-based access to its behavioral analytics platform for insurance carriers and agencies. The firm's revenue structure is predominantly derived from partnerships with various insurance companies, who integrate ForMotiv's solutions into their underwriting processes. The service offerings allow clients to implement real-time predictive analytics and behavioral insights at different levels of friction, tailored to the risk profile of each applicant. While specific pricing plans for individual services are not disclosed, the firm’s flagship products are designed to facilitate a seamless user experience while ensuring stringent risk management practices. The company aims to launch new products and expand its operations into additional global markets, focusing on enhancing its presence in North America, Europe, and Asia.
Who invested in ForMotiv
3 investors across 3 rounds
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Questions about ForMotiv
Who invested in ForMotiv?
ForMotiv has 3 investors on record across 3 venture rounds. Sign up free to see every VC on the cap table and the rounds they joined.
How much funding has ForMotiv raised?
ForMotiv has raised 3 venture rounds. Sign up free to see how much each round raised and the total.
When did ForMotiv last raise money?
ForMotiv's most recent round on record is a Seed, in Sep 2021.
What does ForMotiv do?
ForMotiv LLC specializes in behavioral analytics for the insurance industry, assisting carriers in understanding applicant behavior.
Where is ForMotiv headquartered?
ForMotiv is headquartered in Philadelphia, US.
Which VCs invest in companies like ForMotiv?
Among active investors with capital left to deploy, Andreessen Horowitz, Founders Fund, Accel and Thrive Capital back software companies at ForMotiv's stage. Their profiles are linked below.
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