Pune-based B2B SaaS insurance startup MetaMorphoSys has raised $3 million (Rs 23 crore) in a seed funding round led by Info Edge-backed Capital2B, along with the participation from angel investors Pavitar Singh and Dhruv Dhanraj Behl.
Previously, the startup had raised funding in 2020 from Good Capital.VC and Rahul Khanna, Co-founder and Managing Partner, Trifecta Capital.
Founded in 2016 by Amit Naik and Kewal Vargante, MetaMorphoSys said it operates a SaaS-based low code platform that is preconfigured with benefits, coverages, rules, and vocabularies to help insurance companies launch innovative products across categories such as motor, travel, property, life, and health.
MetaMorphoSys, which offers services to companies across India, Singapore, Indonesia, and Vietnam, will utilize the raised capital to further innovate the platform, expand the product and sales team to other geographies and invest in out-of-box legacy integrations.
“Insurance companies across the globe are using the MetaMorphoSys to launch their products, empower their sales force, settle claims, identify fraud and optimize the entire value chain from customer acquisition to customer engagement including embedded insurance,” said Amit Naik, CEO & Co-founder.
The Pune-based startup offerings include a product configurator, customer engagement and acquisition, sales analytics, and a recommendation engine, among others.