Tel Aviv-founded SeaPass Solutions said Sunday it raised $11.5 million in private equity funding that will enable the company to expand its operations, sales and marketing activities. The round was led by New York-based companies Dolphin Equity Partners and the Inter Atlantic Group, while Apropos IR Ventures, Hyperion Venture Partners and Platinum Neurone Ventures also participated in the financing.
With its sales headquarters in New York and R&D center in Tel Aviv, SeaPass has 90 employees developing connectivity solutions for the insurance industry. The company was founded in 2000 and had raised $16m. in two previous fundraising rounds.