Novidea taps new CTO to fuel global expansion after $50m funding

Digital data-driven insurance brokers and distribution platform  Novidea has secured a chief technology officer to further drive its international expansion on the heels of its $50 million in Series C funding in May.

The insurtech has appointed Erez Nissim (pictured) as its CTO, tasked with spearheading Novidea's research and development (R&D) and product development, leveraging his 20 years of senior technology expertise.

Nissim has held senior positions in global technology companies, where he led R&D, product, and engineering groups. Most recently, he served as EVP at Playtika, a gaming company with a valuation of $7 billion. Before that, he held senior roles at NICE surveillance, Amdocs, and Retalix, and SAP.

"Erez's extensive experience in leading complex software development projects for global companies, from inception to market analysis, requiring definition, technical system design, and product development, makes him the perfect fit to lead our technology team and keep us a step ahead of our competitors, worldwide," said Roi Agababa, CEO of Novidea.

Nissim commented: "I was drawn to Novidea because of the opportunity to play a significant role in supporting its continued global growth and development. I am excited to collaborate with this excellent executive team as we expand into new markets and focus on achieving our next product development milestones."

Novidea’s $50 million Series C funding round was led by Battery Ventures with participation from Cross Creek, both new investors, and the company’s existing investors, Israel Growth Partners (IGP), KT Squared, and JAL Ventures. To date, the company has raised $90 million.

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