Sproutt Insurance
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Sproutt Insurance (also known as Aktibo) was an insurtech startup offering a smarter, easier way to buy life insurance. Founded in Israel with headquarters in Hartford, Connecticut, it used AI-based underwriting - including its 'Quality of Life' index and proprietary Smart Routing - to match customers with life insurance policies online, operating as an independent broker paid by carrier commissions. Led by co-founder and CEO Yoav Shaham, it raised $38 million, including a $12 million Series A in December 2019 (State of Mind Ventures, Guardian Life) and a $26 million Series B in September 2021 (Alpha Wave Global, Raptor Group, Harel Group, MoreTech Ventures) at a roughly $200 million valuation.
02 / Sproutt Insurance FAILURE REASONS
Failure reasons
Sproutt ran out of road after its strategy went wrong. The company itself attributed its deterioration over the three years before insolvency to wrong strategic decisions. It had raised at a $200 million valuation but could not sustain the business, and in May 2024 it submitted a request to the District Court in Tel Aviv to initiate insolvency proceedings, unable to pay a $2.2 million debt to Bank Leumi. Harel Insurance owned 4.5% of the company and Menorah Mivtachim 3.5%.
03 / EVENT HISTORY
Events in the structured record
- Company founded
Sproutt was established in Israel (launched 2018) as a digital life-insurance brokerage using AI-based underwriting and a 'Quality of Life' index.
- $12M Series A
The company raised a $12 million Series A from State of Mind Ventures and Guardian Life.
- $26M Series B
Sproutt raised a $26 million Series B led by Alpha Wave Global with Raptor Group, Harel Group, and MoreTech Ventures, at a roughly $200 million valuation.
- Insolvency proceedings
In May 2024 Sproutt submitted an insolvency request to the District Court in Tel Aviv, unable to pay a $2.2 million debt to Bank Leumi; Dealroom lists the company as closed.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
In May 2024 Sproutt submitted a request to the District Court in Tel Aviv to initiate insolvency proceedings, citing inability to pay a $2.2 million debt to Bank Leumi.
- 02
The company had raised $38 million in total at a peak valuation of about $200 million; no audited annual net loss or creditor-claim totals were publicly disclosed.
- 03
Dealroom lists the company as closed; no acquirer or asset sale was publicly reported.