Click-Ins’ AI car damage detector raises $7.5m. in funding

Insurtech company Click-Ins has announced the completion of a $7.5 million funding round with participation from Shlomo Group, Mobilion Fund, Adar Ltd., YS VENTURE, Summus VC and UMI Israel.

Click-ins has developed an automatic AI-based solution used to examine damage caused to vehicles based solely on images taken from any mobile device, in real-time. The company’s technology reduces the need for specialized assessment equipment typically employed by rental, insurance, and automotive companies by discovering, analyzing, processing, and evaluating external damages caused to vehicles with high precision. As well, by utilizing AI, the company eliminates a large amount of human bias which can be present in damage assessment performed by a human.

The company will use funds from the current round to continue its accelerated growth and to expand and develop its proprietary product.

“This round is an important milestone in the development of the company and is an expression of confidence in the company’s management and in its international business activity on the part of the investors,” said Doron Gohar, CEO of Click-Ins.

Click-Ins continues growing

The company, founded in 2014 by Eugene Greenberg, Dimitry Geyzersky, Ronen Abergel and Zeev Hazan, only employs 25 people dispersed throughout Israel, the US and Europe, but has still seen growth despite its tight profile. Gohar noted that over the last year, Click-Ins has accelerated core product development and signed collaborations with significant customers in the automotive sector.

“The automotive field is undergoing a fundamental change, becoming smarter and more tech-oriented, affecting related fields. We are proud to be a part of this change and to contribute to the development and promotion of the insurance and automotive industry in order to prevent fraud and waste of money, and to enable accuracy and efficiency in outdated and complex processes,” Gohar said.

Avi Feldman, Founder and Managing Partner at Mobilion Fund, highlighted Click-Ins’ market value. “As a fund that specializes in investments in the auto-tech field, Click-Ins is living proof for us that when there is a clear business model for the data collected about the vehicle, and when the client (the insurance company, the vehicle fleet or another factor) receives immediate operational value - the company will grow,” he said. “We predict continued rapid development for the company, as well as entering additional segments in the insurtech and automotive fields.”